KRASNOYARSK, February 20. Significant growth of the exchange reserves of Nickel and low prices for the metal have made 75% of the world’s producers unprofitable, said at the Krasnoyarsk economic forum Vice-President “Norilsk Nickel” Elena Bezdenezhnykh.
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The overhang of inventories of finished Nickel on exchanges and low prices made production unprofitable for almost 75% of industry enterprises”, – she noted.
According to “Norilsk Nickel”, exchange-traded stocks of Nickel from January 2008 to January 2016 has increased by 9 times up to more than 430 thousand tons, the price dropped in 3.5 times up to 8.3 thousand USD per ton of metal.
“The causes of the fall of raw material prices – the slowdown of China’s economy and the dependence of demand for metal from the Chinese market”
Krasnoyarsk economic forum is held under an informational support
Krasnoyarsk economic forum 2016. February 20. Text translation