After falling to their lowest level since 2003 during H1/16, the threat of nickel mine closures in the Philippines triggered a mid-year rally that peaked at around US$11,700/t (US$/lb) in November. The upward trend will continue in the first half of 2017 as ore stocks in China approach depletion point in March-April. Replenishment that usually comes at the end of the monsoon season might then be compromised if, in the interim, the Filipino government shuts down the mines it threatened with closure in September. Equally, increasing nickel and chrome raw material prices will push up stainless prices to an extent that might trigger restocking in the stainless supply chain. But there is a hint of downside risk emanating from China as two of the new mills in ramp up mode are threatened with closure.
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Global nickel short-term outlook December 2016 PDF - 525.94 KB 24 Pages, 13 Tables, 8 Figures
Global nickel STO data tables December 2016.xls XLS - 410.00 KB
As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth.
This Nickel Short Term Outlook report provides a detailed breakdown of global supply and demand balances in this market, as well as price forecasts.
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Commodity market report | Dec 2016
Global nickel short-term outlook December 2016
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