Post by
caramba71 on Aug 12, 2021 10:01pm
China Nickel price jumps....
Guess not unexpected for most of us here, as apapas had mentioned this several times closely monitoring supply/inventory levels...
"....Macquarie expects the nickel market to flip to a 100,000-tonne deficit this year from a surplus of a similar margin in 2020 due to higher Chinese demand and supply disruptions, analyst Jim Lennon said...." with a cautionary note that '...nickel supply will likely start to overtake demand in the fourth quarter, which could weigh on prices, he added.'
https://www.mining.com/china-nickel-price-jumps-as-stockpiles-drop-near-record-lows/
Comment by
apapas1973 on Aug 12, 2021 10:23pm
Good read caramba. They're stating 150,000 tons available for delivery. I currently see it down to about 205,000 tons on kitco. Not sure why the disconnect. There's obviously something I'm not understanding. Must have something to do with the "immediate availability for delivery". Their scenario makes it even more dire.
Comment by
caramba71 on Aug 12, 2021 10:36pm
I also saw a note from Vale, indicating that production in Sudbury will start slowly and not contribute to the supply side right away. Apparently it's not that as simple to turn on a smelter as turning on the lights.... Nickel will stay in the spotlight.