04.02.2013 - Barlcays favours shorting Nickel
The refined nickel market is heading for surplus again in 2013. Price-sensitive Nickel Pig Iron is the market’s swing supply and makes up most of the top quartile of the global industry cost curve, so will likely be the deciding factor of where prices will need to trade to trigger supply rationing. With LME prices currently trading at the upper end of the cost curve, Barlcays favour shorting nickel. The rapid growth in lower-cost, higher-quality supply from RKEF(Rotary Kiln-Electric Furnace) means the NPI sector is now the main supplier of nickel to the stainless market............................................Full Article: Source
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