Nickel Slump Seen Ending as China Faces Ore Import Curbs

Metals , Stainless Steel May 31, 2012 No Comments

NickelNickel 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.

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website

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