Nickel Slump Seen Ending as China Faces Ore Import Curbs

Nickel fell 12 percent this year on prospects for the biggest surplus since 2009. Morgan Stanley now predicts the glut will peak in 2012 and Barclays says prices should rally toward the end of the year on strengthening demand from stainless-steel makers, the biggest consumers.

The rebound may not happen until then as China runs down record ore stockpiles accumulated in anticipation of the Indonesian ban.

After slumping more than any other industrial metal, analysts and traders say the worst may be over for nickel as restrictions on shipments from Indonesia, the biggest producer, diminish a worldwide glut.

via Nickel Slump Seen Ending as China Faces Ore Import Curbs – Bloomberg.

Related posts:

1. Nickel Pig Iron Output in China May Jump, Capping LME Price
2. Copper Rises to Record, Aluminum, Nickel Climb as China Grows – Bloomberg.com
3. Iron ore in record slide as China demand slows
4. Industrial Metals Soar Most in Three Years on European Talks, China Demand
5. Steel Guru: Stainless steel buyers tend to hold orders on down nickel prices