Global nickel short-term outlook November 2019
Nickel prices retreat as Indonesian nickel ore exports resume and LME stock withdrawals come to an end. Chinese stainless maintains strong production rates but remains at risk of cuts as domestic market appears oversupplied. Asian penetration by Tsingshan Indonesia may slow as protectionist trade tariffs become increasingly likely. Europe is particularly concerned; as regional stainless production falls back in the face of imports, the EU launches a complaint to the WTO about Indonesian export rules for stainless raw materials.