Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

Change font size:   

October 2018 | Base Metals

Nickel: Base building

Nickel prices appear to have halted their downtrend off their June high and are doing a decent job of base-building ahead of a likely resumption of the major pre-June uptrend. As we note in our technical analysis, there are some key levels nearby to overcome to confirm a change in direction, and it may be that bullish sentiment emerging from LME Week helps with that push.

The September edition of our Stainless Steel Markets Tracker report provided some interesting insights and analysis into recent Chinese and Indonesian stainless steel production trends, which we share here given the implications for nickel demand. China: Stainless inventory falling, production curbs to continue Stainless steel suppliers in China, including mills and stockists, have generally been attempting to reduce surplus stocks since the summer. As of mid-September, our latest data point at the time of publication, CR and HR stocks in Wuxi had slipped 1,100 tonnes since the end of August to 209,300 tonnes. This continued a rundown since mid-August, when volumes had recovered to 231,000 tonnes, the highest level since mid-April. Unsurprisingly...


You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.


Already subscribed?