China’s Still Motoring Along
SMH reported far away from the anguish of Europe's debt contagion, the Chinese economy has been chugging along very nicely.
SMH reported far away from the anguish of Europe's debt contagion, the Chinese economy has been chugging along very nicely.
Reuters reports base metals fell as weak export orders from China and surveys showing weak European manufacturing activity deepened worries.
Bloomberg reports Larco SA forecast higher sales and profit in 2011 amid greater international demand for the metal and higher prices.
Nickel is projected to be in a surplus over the next year and a half, as weak stainless steel demand has caused cuts in production. There are supporting factors as the market heads for its bottom.
Bloomberg reports commodities headed for the biggest monthly drop in a year as concerns in China and Europe fanned speculation.
Nickel prices on the LME have been on a downward trajectory since March. Weakened demand for steel, increased production of nickel, and many manufacturers seeking substitutes may put create a surplus in 2011.
Bloomberg reports that bonds of Europe’s most-indebted nations fell, stocks dropped and the yen, gold and silver climbed.
Bloomberg reports that the yen strengthened and European stocks fell from a one-month high after an earthquake hit Japan.
By Leia Michele Toovey-Exclusive to Nickel Investing News Nickel was one of the worst performing commodities last year, sinking from more than US $33,000 a tonne in March to below US $9,000 in October due to lower demand from steel makers. Late in the year, the industry was hit with a bunch of cutbacks- cutbacks [...]
Nickel prices could drop another 25 per cent by the end of this year, unless orders from stainless steel producers in Europe increases in the next two to three weeks, industry sources and analysts reported. Wright was quoted as saying: If demand from the stainless steel mills does not pick up in the fourth quarter, [...]
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