Nickel Prices Dropped Despite Supply Side Issues In Indonesia

Nickel trading range for the day is 675.1-698.5. Nickel prices dropped despite supply-side issues in Indonesia and the Philippines have again taken centre stage in the nickel market. Global primary nickel output is estimated to reach 1.96 million tonnes in 2016, an increase of 0.35% on an annual comparison. Chinese stainless steel production reached 24.79 million tonnes in 2016, an increase of 11.87% year-on-year.

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