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  • Nickel

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    akshit_vij
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    Nickel is a metal with many industrial uses including in over 300,000 consumer and industrial products. In 2010, tight nickel supplies resulted from production losses and interruptions, but production increased as closed mines reopened. Stainless steel production and demand for nickel both increased in 2010. The nickel price is influenced by macroeconomic factors like GDP and industrial production in major economies like the US, China, Japan, and Germany.

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    Nickel is a metal with many industrial uses including in over 300,000 consumer and industrial products. In 2010, tight nickel supplies resulted from production losses and interruptions, but production increased as closed mines reopened. Stainless steel production and demand for nickel both increased in 2010. The nickel price is influenced by macroeconomic factors like GDP and industrial production in major economies like the US, China, Japan, and Germany.

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    33 vues8 pages

    Nickel

    Transféré par

    akshit_vij
    Nickel is a metal with many industrial uses including in over 300,000 consumer and industrial products. In 2010, tight nickel supplies resulted from production losses and interruptions, but production increased as closed mines reopened. Stainless steel production and demand for nickel both increased in 2010. The nickel price is influenced by macroeconomic factors like GDP and industrial production in major economies like the US, China, Japan, and Germany.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 8

    NICKEL Fundamental Report

    05th APRIL, 2011

    INDEX

    Particulars

    Page. No

    Overview , Application , Outlook Production/Supply & Demand/ Consumption Demand & Supply Balance, Stainless Steel Production

    2 3 4

    USD VS Nickel Price Macro Economic Factors- US ,China, Japan, Germany GDP

    5 5-6

    US , China, Japan, Germany Industrial Production US Construction Spending, China Production Construction, Japan Construction Spending

    6-7 7-8

    NME Nickel

    www.danisecurities.com

    Page 1

    Overview
    Reco CMP(MCX) CMP (LME) Tgt Buying in range of 1140-1130 1144 25500 1250-1280

    An appreciation ranging between 9% - 12%.

    Nickel is a lustrous, silvery-white metal. It has a melting point of 1453 C, relatively low thermal and electrical conductivities, high resistance to corrosion and oxidation, excellent strength and toughness at elevated temperatures, and is capable of being magnetized. It is attractive and very durable as a pure metal, and alloys readily with many other metals. Reflecting these qualities, nickel is widely used in over 300,000 products for consumer, industrial, military, and transport/aerospace, marine and architectural applications.

    Price Performance (%)


    1M MCX LME -11.94 -11.46 3M 0.89 1.37 6M 3.72 5.63 12M

    Application
    First Uses
    1.29 1.80

    Copper & Nickel Relative Performance

    Source: Nickel Institute

    End Uses
    Research Team
    CA Kaushal Jaini (AVP Research) Kaushal.jaini@danisecurities.com

    Pinky Chandnani pinky.chandnani@danisecurities.com

    Devashish Srivastava devashish.shrivastav@danisecurities.com


    Source: Nickel Institute

    www.danisecurities.com

    Page 2

    Production/Supply

    Source: USGS,Dani research

    The supply picture in 2010 was troubled, as production losses caused by the long strike at Brazil-owned Vales Canadian units, extensive interruptions to production in Australia and the on-off performance of Chinese NiCrFe (nickel-pig iron) producers led to tight supplies. Nonetheless, reorganization in the industry, the recommissioning of closed or suspended units and the start-up of major projects in New Caledonia, Indonesia and Madagascar enabled companies to increase output.

    Demand/Consumption

    Source: ABARE,Dani research

    www.danisecurities.com

    Page 3

    Demand & Supply Balance (tones)

    Source: ABARE,Dani research

    Stainless Steel Production (tones)

    Source: worldstainless.org

    www.danisecurities.com

    Page 4

    USD VS Nickel Price

    Source: Bloomberg,Dani research

    Macro Economic Factor


    US GDP China GDP

    Source:Bloomberg,Dani research

    Source:Bloomberg,Dani research

    www.danisecurities.com

    Page 5

    Japan GDP

    Germany - GDP

    Source:Bloomberg,Dani research

    Source:Bloomberg, Dani research

    US Industrial Production

    China Industrial Production

    Source:Bloomberg,Dani research

    Source:Bloomberg, Dani research

    www.danisecurities.com

    Page 6

    Japan Industrial Production

    Germany Industrial Production

    Source:Bloomberg, Dani research

    Source:Bloomberg, Dani research

    US Construction Spending(US $ Million)

    China Production Construction(Million Units)

    Source:Bloomberg,Dani research

    Source:Bloomberg, Dani research

    www.danisecurities.com

    Page 7

    Japan Construction Spending (Million $)

    Germany Construction Spending (Euro)

    Source:Bloomberg,Dani research

    Source:Bloomberg,Dani research

    LME NICKEL

    Disclaimer: This report is distributed for information purpose only. The information in this report does not constitute an offer to sell or solicitation of an offer to buy any of the securities mentioned in the report. The readers may note that neither Dani Commodities Pvt. Ltd (DCPL) nor its analysts or employees take any responsibility, financial or otherwise, due to any transaction undertaken or any action based on the information contained herein. DCPL reserves the right to make modifications and alterations to this statement as may be required from time to time.

    www.danisecurities.com

    Page 8

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