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[Ferro-Alloys.com] It is reported that nickel prices posted the biggest quarterly advance since 2010 amid concern that world supplies will be constrained.
The commodity, used to make stainless steel, has recorded the biggest gain this year of the six main metals traded in London. Indonesia, the leading global producer of mined nickel, barred exports of unprocessed ores in January. China, which imports nickel ore, has enough stockpiles for five months, according to a Bloomberg survey of smelters, miners, traders and analysts.
Mr Bart Melek an analyst at TD Securities in Toronto said that “The fundamentals are very supportive for nickel. Also, investors are betting that China’s demand will increase.”
Nickel for delivery in three months rose 1.2% to settle at USD 15,900 per tonne on the London Metal Exchange. This quarter, the price increased 14% the most since the three months ended September 2010.
Nickel for delivery in three months rose 1.2% to settle at USD 15,900 per tonne on the London Metal Exchange. This quarter, the price increased 14% the most since the three months ended September 2010.
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- [Editor:Yueleilei]
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