After the fallout from the Chinese documentary “Under the Dome,” many nickel pig-iron producers are under pressure to clean up their act or shut down.
Could nickel prices get a boost from the most recent closures at NPI producers in Linyi City, Shandong Province, China?
“The closures will not boost nickel price,” an analyst told CS.com.cn, citing high LME nickel inventories, tumbling nickel prices, and a strong dollar.
Supply of low-grade NPI is also sufficient, the analyst told the website.
Linyi is a major producing region of low-grade NPI in China, with output accounting for 75% of China’s total.