ST: Nickel demand shows signs of growing - Anglo American
Anglo American PLC said that global demand for nickel shows signs of growing, particularly in China.
Mr Walter De Simoni head of nickel at Anglo American PLC said that "The nickel market is forecast to benefit from strong demand fundamentals over the medium to long term, though demand will follow the pronounced stainless steel cycle."
It may be noted that the nickel LME price had risen to USD 20,000 per tonne by August but dropped sharply to USD 16,600 per tonne by the middle of September. Nickel price is expected to fluctuate in the range of USD 17,000 to USD 18,000 per tonne.
Besides, some nickel producers are mulling the possibility of raising production.
