The nickel market in 2013 was governed by disappointing demand and surging NPI production, resulting in oversupply and prices falling to low levels. In 2014, the potential for the Indonesian ban on ore exports to substantially reduce NPI output will be ameliorated by existing ore stocks in China until 2015. The prospect of stock depletion may lead to a rise in Chinese nickel imports that could tighten 2014 supply and support prices in the interim.
Table of contents
2013: Overwhelming supply, underwhelming prices
2014: Indonesian dominoes
Tables and charts
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