In a recent statement to analysts «Standard Bank» says that the steady decline in world prices for nickel lately as close as possible to the threshold value of the resource profitability. Now, experts say, the price of the metal will be in the corridor quotations as long as the volume of its release, the leading market operators have been significantly reduced.
Now — according to the commodity sector professionals — the situation is as follows: despite the excess supply of refined products, the producers of nickel pig iron (a cheap substitute for the primary Ni in the steel industry) do not reduce speed, and resource stocks on the global trading floors (which is well illustrated by the London metal Exchange) is constantly increasing. At the same time — according to analysts «Standard Bank», spot nickel market is in a stable state of calm, but product futures market may experience some growth, which is not typical for this time of year.
As the statistics «World Bureau of Metal Statistics» (WBMS), in the first quarter of this year, a surplus of nickel fell slightly on the world market (in the same period last year, the surplus metal was 33.3 thousand tons, this year -. 31, 7 thous. tons). However, this «white streak» for the resource is over: on the basis of calculations of analysts, compared with the first months of the year at the moment the world nickel production increased by 14.9% (to 673.9 thousand tons in absolute terms.), While demand in the global market increased only by 10.1% (to 596.4 thousand. tons).
In the past, representatives of «World Bureau of Metal Statistics» reported that an overabundance of nickel on the world market originated in 2012 and amounted to 12 months on the basis of 117 ths. Tons (compared to 3.1 thousand. Tons of this metal deficit in 2011). It is only Japan increased nickel output in the past year by 10.7 thousand. Tons, while the demand for the metal in the country fell by 14.4 thousand. Tonnes. In general, in the world markets for the entire past year, the demand for nickel has increased by 101.4 thous. Tonnes (compared with 2011), however, the proposal continued to be significantly higher.
Recall that the world's leading producer of nickel is the Russian MMC «Norilsk Nickel». The company produces about 300 thousand. Tonnes of nickel per year. It is followed by the Brazilian-Canadian corporation «Vale Inco Ltd.» and Anglo-Austrian corporation «BHP Billiton». Completing the top five leaders in the production of nickel «Jinchuan» (PRC) and «Xstrata» (England + Switzerland).