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The beginning of the week on the LME was marked by decrease in quotations of Nickel

16 August 2011
The beginning of the week on the LME was marked by decrease in quotations of Nickel

On the London Metal Exchange continued falling of Nickel prices. So the auction that opened the current week, saw the cost of cash Nickel, just topping the mark of 21780 USD per ton. Recall that the average price of this metal in the past month on the London stock exchange was just over $23 700 and in August (first two weeks) — $22 900. And this is despite reduction of stocks of Nickel on the slides controlled by the LME for the period from mid-June reserves of the metal has decreased by almost 8,000 tons. According to research by the International Bureau of metallurgical statistics (WBMS), global Nickel market by the middle of this year also experienced a shortage. Despite this, the cost of Nickel continues to demonstrate negative dynamics, its contradictions dictating the market operators to adhere to the fence. By the end of this year, according to analysts, the situation on the Nickel front will mostly depend on the vagaries of the market of stainless steel. And in this sector, according to experts of consulting company MEPS, the expected progress since, in their opinion, in the near future worldwide output of stainless steel increased by more than 8% and is easy to take the mark of 33.5 million tons. Optimistic prospects draw stainless steel sector (and with it the Nickel market) analysts at Societe Generale (one of France’s largest banks, providing services of asset management and service investment banking). According to their forecasts, growth of stock quotes of Nickel will manifest itself by the beginning of autumn.

15 August 2011
17 August 2011