Commodities
Nickel Production Heating Up
While this may signal a turnaround in consumption, nickel prices may not improve just yet. The current global inventory levels continue to be at multiyear highs. For instance, LME stocks stood at just about 4,700 tons the last time nickel hovered around $50,000 per ton.
An important factor that could temper China's imports from global nickel miners is the domestically produced nickel in Pig Iron (NPI), a lower grade nickel produced mainly in China and used by domestic stainless steel mills. Experts reckon that a rapid growth in NPI production could crowd out demand for high-grade nickel, even as stainless steel production increases. New projects, including Vale's Goro project in New Caledonia and the Ambatovy project in Madagascar -- each producing 60,000 tons per year -- are set to increase global NPI production over the next couple of years.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
Connect with TheStreet