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

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November 2019 | Stainless Steels


Nickel prices plummet, further sell-off possible: Nickel Highlights


While well down on the 122,000-tonne deficit accumulated over the same 9-month period of 2018, this year’s shortfall still represents a significant imbalance and is certainly price-supportive, especially considering how low visible stocks have become.

There has been plenty of fresh fundamental nickel data published recently, including the INSG’s latest monthly bulletin. After reporting last month a mere 100-tonne global supply deficit in August, almost bringing to an end the run of 26 consecutive monthly deficits, the INSG reported a more meaningful 3,200-tonne supply shortfall in September. This was the result of global demand rebounding month-on-month and production retreating. What is more, August’s deficit was revised slightly higher, as was the cumulative year-to-August deficit, which went from 44,700 tonnes to 47,600 tonnes. Adding the September deficit, the cumulative global supply shortfall for the...

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