Global

Details

  • Industry: Mining
  • Type: Business and industry issue
  • Date: 12/1/2011

Nickel Q3 2011 – December 2011 

During the third quarter of 2011, refined nickel prices averaged US$10.30 / lb on the London Metal Exchange, up from US$9.62 / lb in the third quarter of 2010, a year-on-year (y-o-y) increase of seven percent. However, this was lower than the year-to-date peak of US$13.20 / lb, witnessed in mid-February. In the fourth quarter, the price is likely to decline to US$9.99 / lb, as year-end stocks are expected to increase seven percent y-o-y, from 143,200 tonnes to 153,100 tonnes, as shown in Figure 1. This increase in stocks can be attributed primarily to an increase in mine production and a slowdown in the growth of global steel consumption.

nickel december 2011
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