South Africa

Details

  • Industry: Mining
  • Type: Publication series
  • Date: 2012/09/04

Quarterly Commodity Insights Bulletin: Nickel (Q2 2012) 

This Quarterly Commodity Insights Bulletin looks at how nickel has performed during the second quarter of 2012.

Refined nickel prices averaged US$7.73/lb on the London Metal Exchange, down 30 percent from US$11.02/lb over the corresponding quarter last year. Surplus for nickel stood at 17kt in 2011; the oversupply continued during the first 5 months of 2012, reaching 27kt, as estimated by the International Nickel Study Group (INSG). Oversupply, in combination with slow down in consumption due to a weak global economy, is exerting a downward pressure on prices. Demand growth from China, the top consumer, has also declined because of the slower economic growth. According to China Customs, y-o-y nickel imports to China declined by 30 percent and 31 percent in April and May 2012, respectively. Consequently, prices remained soft throughout the quarter.

 

Also in this report:

 

  • Supply and demand review
  • Ownership changes
  • Regulatory updates
  • Impact of global nickel projects

 

Download the full report

 

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Head of Mining - Africa
Tel: +27 (0)11 647 6646

ian.kramer@kpmg.co.za