Nickel/Production cuts have limited impact on premiums

摘要

Despite the substantial losses to nickel production, there has been little sign of any improvement in sentiment or merchant premiums. This is because falling nickel output has been more than offset by weak demand, allowing LME stocks to creep back up to the 50,000t mark in recent days. Even the knowledge that the labour contract at Vale-Inco's 35,000tpy Manitoba plant in Canada is due for renewal next week has not generated any concern over future supplies.