Nickel

摘要

Nickel market sentiment has become rather gloomy since the start of the year. The long awaited recovery in the stainless steel sector has been weaker than expected and demand for nickel has consequently been softer. There has also been a growing realisation that even if a more pronounced pick-up in buying activity is just around the corner, the market is well supplied with nickel and unlikely to shift rapidly into deficit. Reflecting the downbeat mood, LME nickel prices have failed to maintain their early-January strength and have slipped into a range of 26,500-28,500 dollars/t. Despite the depressed tone, some signs of improvement have emerged in recent weeks and there remains hope of a stronger recovery taking hold in the near future.