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

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November 2019 | Ferro-alloys

Higher demand, weaker supply restored global deficit in September: 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 in the past week, which we review here. After reporting a mere 100-tonne global supply deficit in August last month, almost bringing to an end the remarkable 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 in September 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...


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