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Pressure builds for nickel

In an article last year, we commented that the world’s nickel producers appeared to be in dire straits and, to be honest, the only thing to have changed is that the straits have become direr.

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A switch to lower stainless steels requiring less nickel in the March quarter has hit demand (photo: Reliance Foundry)

Key to the ongoing cadence and ultimate cascade in nickel price has been policy changes in Indonesia, the Philippines and the ever-present outlook on Chinese demand.