Nickel has fallen like other base metals on the prospects for lower demand from China. The international Nickel Study Group (INSG) suggests that demand will still be positive next year but the forecast is contingent on the direction of the Chinese economy. China is the marginal buyer of nickel,but a higher percentage of nickel is used in developed countries about 30-35 versus 20-25% for most other base metals, so a recession in the Eu or the US will have a greater impact on price. Most nickel (65%) is used in stainless steel or other alloys (20%).
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