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The global nickel market expects the excess

According to data provided INSG, in March of this year, the nickel world market saw a surplus of the metal, which amounted to 3,600 tonnes, while in the same period of 2013 it amounted to 7600 tons. In the first quarter of 2014 the surplus was 13 400 tonnes, while in the same period in 2013 was 38 900 tonnes. These data clearly indicate a significant shift in the balance of supply and demand, what is largely influenced by the Indonesian ban.

Analysts «WBMS» suggest that a surplus supply in the amount of 19 thousand tons, but the figure was 197 000 tonnes at the end of last year in the 1 st quarter of this year. At the moment, analysts' predictions about the future shortage of suggestions were not realized, but such an outcome more than likely in the long term, if the demand for nickel will remain at a high level.

Meanwhile, on May 26 this year in China's construction and installation work on the important metallurgical facility was completed. The company, focused on the production of nickel and its alloys with an annual production capacity of 500 thousand tons, is located in the north-western region in the process Longtan Park, being the largest object in the cluster. Investment in the project amount to more than 1 billion. USD. The plant for the manufacture of products intended to use the imported ore, mostly supplied by the countries of South-East Asia, and the issue will be made in accordance with EU requirements, which will provide further opportunities for export. During June and July of this year, the main task of the company will be carrying out commissioning, then, in August, the facility will be officially put into operation. Despite this nickel deliveries from the company «Norilsk Nickel» in China in 2014 will increase to the level of 100 thousand tons, while in 2013 the amount was only 70 thousand tons.

A little earlier, «Norilsk Nickel» conducted negotiations with China and Japan with respect to long-term agreements for the supply of palladium. We expect that the agreement will last for at least 5 years. Planned amounts were not disclosed, although the statements of Paul Fedorov, general director of the company, they will be very significant with respect to annual production. Calculations at the conclusion of an agreement with the Chinese representatives will be conducted in RMB.

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