BNP Paribas analysts predict a rise in the consumption of Nickel

As reported by correspondents Stephen Briggs, representative of the analytical Department of the French Bank BNP Paribas (one of the six most powerful financial institutions in the world), according to experts of Bank, growth of demand for Nickel in the current year (globally) will be 5−9%.However, not all operators Nickel market consider these forecasts truthful and optimistic. As with the expected commissioning of new production facilities, the production volumes of Nickel will exceed demand (more significant growth which is unlikely due to the relatively «sluggish» consumption of stainless steel). In addition, skeptical of market experts, any significant increase in demand for Nickel is possible only by the end of next year: the increase in the consumption of stainless steel (and thus demand for alloying components) before this time has no economic justification. However, signs of recovery from the crisis for the Nickel industry are obvious: the extraction of this metal in the first half of this year exceeded 750 thousand tons, which is 52 thousand tons more than the same period in 2010. While the volume of world consumption of Nickel (according to the analysis of the last 12 months) are growing at a rate of about 16% per year, and the market is still experiencing a shortage of this metal.