Nickel Prices Rise for Sixth Day as Norilsk Sees Deficit
This article is for subscribers only.
Nickel prices rose for the sixth straight session after OAO GMK Norilsk Nickel, the world’s largest producer of the refined metal, said the market may face a deficit as early as the third quarter.
Demand from stainless-steel makers remains stable after Indonesia barred ore exports in January, Norilsk said today. The nation is the top producer of nickel from mines. China, the biggest consumer of industrial metals, outlined last week a package of measures including railway spending and tax relief to support the economy.