Nickel prices may fall in 2011
- Categories:Industry News
- Author:
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- Time of issue:2011-02-21 09:39
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(Summary description)Comprehensive media news on February 17 GFMS stated that nickel prices will fall in the second half of 2011 and 2012 due to oversupply. GFMS chief nickel analyst Shairaz Ahmed said that nickel prices will fall in the second half of this year and 2012 due to increased supply. Ahmed said that the average price of nickel will reach US$24,000 per ton in 2011; it will be US$19,500 in 2012 because the market will be in oversupply. On Wednesday at 1333 GMT, the LME three-month nickel was quoted at US$28,651 per ton. "Supply and demand conditions mean that inventories will increase further, so nickel prices should decline, but they will not drop significantly due to other non-fundamental factors, such as U.S. dollar or fund buying," he said. Ahmed said that the new production capacity plus the restart of the old production capacity should promote the increase in production, and it is difficult for the market to absorb new supply. China will continue to promote the growth of nickel demand, which will increase by 12% to 620,000 tons in 2012 compared with 2010.
Nickel prices may fall in 2011
(Summary description)Comprehensive media news on February 17 GFMS stated that nickel prices will fall in the second half of 2011 and 2012 due to oversupply.
GFMS chief nickel analyst Shairaz Ahmed said that nickel prices will fall in the second half of this year and 2012 due to increased supply.
Ahmed said that the average price of nickel will reach US$24,000 per ton in 2011; it will be US$19,500 in 2012 because the market will be in oversupply.
On Wednesday at 1333 GMT, the LME three-month nickel was quoted at US$28,651 per ton.
"Supply and demand conditions mean that inventories will increase further, so nickel prices should decline, but they will not drop significantly due to other non-fundamental factors, such as U.S. dollar or fund buying," he said.
Ahmed said that the new production capacity plus the restart of the old production capacity should promote the increase in production, and it is difficult for the market to absorb new supply.
China will continue to promote the growth of nickel demand, which will increase by 12% to 620,000 tons in 2012 compared with 2010.
- Categories:Industry News
- Author:
- Origin:
- Time of issue:2011-02-21 09:39
- Views:
Comprehensive media news on February 17 GFMS stated that nickel prices will fall in the second half of 2011 and 2012 due to oversupply.
GFMS chief nickel analyst Shairaz Ahmed said that nickel prices will fall in the second half of this year and 2012 due to increased supply.
Ahmed said that the average price of nickel will reach US$24,000 per ton in 2011; it will be US$19,500 in 2012 because the market will be in oversupply.
On Wednesday at 1333 GMT, the LME three-month nickel was quoted at US$28,651 per ton.
"Supply and demand conditions mean that inventories will increase further, so nickel prices should decline, but they will not drop significantly due to other non-fundamental factors, such as U.S. dollar or fund buying," he said.
Ahmed said that the new production capacity plus the restart of the old production capacity should promote the increase in production, and it is difficult for the market to absorb new supply.
China will continue to promote the growth of nickel demand, which will increase by 12% to 620,000 tons in 2012 compared with 2010.
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