Nickel production cuts are taking place and demand is perhaps a little better than it was in February, but neither have made a significant impact on nickel prices or market sentiment, despite a brief rebound to above US$9,000/t in the first week of March. Exchange stocks remain above 500kt, with off-exchange stocks estimated to be at a similar level, and so further production cuts are still needed. We believe these will come if prices remain at their present levels for the next 6-9 months. This should then lead to a draw on inventory, which in turn could stimulate prices to start moving slowly upwards.
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Global nickel short-term outlook March 2016 PDF - 456.73 KB 25 Pages, 13 Tables, 7 Figures
Data Tables Ni STO.xls XLS - 417.50 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.
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Commodity market report | Mar 2016
Global nickel short-term outlook March 2016
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