Nickel

摘要

Throughout this year, the major influence on the nickel price has been changes in sentiment over the global economic outlook. In July, when there was a degree of hope and optimism, prices rose fairly steadily in line with other LME metals and reached $25,000/t by month-end. LME stocks fell from around 104,000 tonnes in early July to 101,500 tonnes in the third week. Then came what one commentator referred to as the "Guns of August" in an economic forecast published early this year. Serious concerns about the stability of the Eurozone and the ability of the US to agree its federal debt ceiling in order to underwrite its bond market, led to a very bleak economic outlook and serious worries about prospects for growth in these major economies.