Macquarie Research said that nickel stocks fell in February to 8 th. Tons as a result of the growth in stainless steel production. There is a significant increase in the number of orders, which suggests that the production of stainless steel in the second quarter will continue to grow.

In February, Macquarie has assessed global nickel reserves at the level of 454 thous. Tons. The company notes that the recent rapid increase in nickel prices was supported by the reduction of inventories. Nevertheless, the Macquarie estimate does not include approximately 80−100 thousand. Tons of excess unaccounted for stocks that are in China.

According to Chinese research firm Beijing Antaike Information Development Co. in February, stocks in China amounted to about 150 thousand tons of nickel -… 50 thousand tonnes more than was reported in mid-2009.

Despite such large stocks, the market no signs of «stock sales as the market expects further price increases."

Infogeo.ru based on ICDA