The price of nickel, which was down around $1.70(US) a lb at presstime, will probably drop to $1.50 a lb, knocking off a lot of production capacity, market analyst Ilmar Martens said in a panel discussion in Toronto.
To many the slump in prices may seem unusual considering today’s high nickel consumption level. Stainless steel, at least for the present, continues to be a bright spot. Despite a slight downturn in production compared with last year, the industry is expected to produce about 7.6 million tonnes of stainless steel in 1986. That level has been surpassed only twice: in 1985 and 1984.
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