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Thursday, October 12, 2017       09:54 WIB
PremierInsight: Nickel supply shortage in China may take longer than our expectation

Nickel supply shortage in China may take longer than our expectation as Linyi Municipal Environmental Protection Agency of Shandong Province China released a Notice for production suspension and limitation of all ironmaking, steelmaking, ferro-nickel, manganese iron, cast-iron and pelletizing projects within the city during Nov.15th 2017 to Mar.15th 2018. Those companies directly involving nickel including Shandong Lingang Nonferrous Metals Co., Ltd., Linyi Jinhai Technology Co., Ltd.and Shandong Xinhai Technology Co., Ltd., are required to limit production by 50%. These three companies formed 25% of nickel pig iron supply and 15% of primary nickel supply in China.

Comment: We maintain our bullish view on nickel price, and reiterate our Buy recommendation on INCO with TP of Rp3,500.

 

 

Sumber : IPS RESEARCH


 





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