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We need more rats than elephants

News - 11 Apr 14

At the moment, the nickel market is moving very quickly in just one direction. On the 10th April, for the first time in ages, it moved above the USD 17,000.00/mt level, closing for the day at USD 17,226.00/mt for the three months price. The fundamental push behind this development is clear: the export ban for Indonesian nickel ore. This is hardly surprising when the nickel content of all Indonesian mining production for 2013 was 775,000 tons, which corresponds to around 40% of world production of refined nickel. Of these 775,000 tons, according to statistics, about....

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And the markets are still working

News - 18 Mar 14

In line with expectations, the London nickel price was able to gain more in strength since our last publication, showing only one direction on the London Metal Exchange (LME): Upwards. Apart from one small correction at the end of February, the metal has been trading, for the first time in a long while, at levels over USD 16,000.00/mt, making it more than 20 percent higher than at the start of the year. This level is already clearly more than the average expectation of USD 14,774.20/mt made by analysts in the Reuters poll for 2014. Even though this was only published on the 21st of January, 2014, analysts had presumably not been able....

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Hardships of the German migrant workers

News - 14 Feb 14

Nickel has established itself above the 14,000.00 USD mark. With the export ban for Indonesian ore coming into force, a steep rise up to USD 14,800.00/mt was seen at the beginning of the year, leading then to a sharp correction which saw prices come back down to levels around USD 13,800.00/mt. The correction was probably caused by the general higher awareness of risk seen in all the markets. Stock markets worldwide also registered distinct mark-downs. It also has to be taken into account that after sharp price rises, technical market corrections trigger profit taking. From the corrected levels, then....

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Nice to see you again

News - 17 Jan 14

The export ban for unrefined nickel ore, which has just been imposed in Indonesia, cannot be ignored in any reports at the moment concerning the commodities which are necessary in stainless steel production. The export ban was even worth a mention in the national news broadcast of the German public television channel ARD. Reports about commodities do not normally have the attention of the wider news spectrum during its main transmission time, so this was quite something. Quite a few, or, to be more accurate, nearly all market observers have been taught a lesson here and have been proven incorrect in their predictions. They had been repeatedly saying that it would....

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Good news is bad news

News - 10 Dec 13

"Business as usual" could almost be said about the nickel market. If October was a month of price climbs, then November was one of tumbling falls. Towards month end even the lows seen in July this year were briefly touched at around the USD 13,300.00/mt level. But here the market is supported very well by the cost curve of production. At this level around 50% of nickel producers can not even recoup their cash effective costs in nickel production, without even mentioning full costs. For months now, nickel prices have been....

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