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

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February 2020 | Ferro-alloys

EU passenger car sales, annualized basis ('000 units): Nickel Highlights

One is the continued build in LME stocks, which remains unrelenting. That said, steady net inflows have been a constant theme since the start of the year – averaging 2,256 tpd and amounting to an 85,734-tonne or 60% gain.

Nickel was the standout worst-performing base metal last week, falling 3.7% and setting a fresh 2020 low, compared with an average weekly decline of 1.6% for nickel’s peers. Nickel tends to be a more volatile market, overshooting either way when prices are directional, so we perhaps need not look much further than this fact to explain the underperformance last week. But there are two nickel-specific fundamental factors worth mentioning that could also have...


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