Nickel highlights

摘要

Nickel has started 2006 on a positive note as market sentiment towards the metal has turned increasingly bullish. After averaging 13,457 dollars/tonne in December, the first monthly gain in three months, cash prices averaged 14,735 dollars/tonne in 2005, up by 6.4 percent year-on-year. Entering 2006, the market largely ignored inventories reaching close to five year highs and the metal has managed to move to within touching distance of the 15,000 dollars/tonne level again in early January. The outlook for the metal has been seen to be improving of late with stronger-than-expected economic growth in Europe, a forecast weakening in the dollar and increasing production from the stainless sector. This is coupling with continued delays and disruptions from the nickel supply side.