Nickel, of course, is the key metal mined in Sudbury and by two of the city’s major employers, Vale and Glencore.

Also behind higher prices are delays to planned expansions of production capacity in Indonesia until next year.

“Following surpluses earlier this year, there could be a narrowing in the current quarter and indeed even a small deficit in first quarter of next year. After that surpluses will re-emerge,” Lennon said.

Global demand for nickel is expected at 2.52 million tonnes in 2021 from 2.32 million tonnes this year, the International Nickel Study Group (INSG) said last week.

It said that expectations are for a 117,000 tonne surplus this year and a surplus of 68,000 tonnes next year.

Bets on higher prices can be seen in the higher open interest for the LME’s nickel contracts

Base metals were supported by Chinese gross domestic product growth at 4.9 per cent year on year in the July to September quarter, below the consensus but above the 3.2 per cent in the second quarter.

Industrial output, key for metals demand, rose 6.9 per cent year on year in September from 5.6 per cent in August.

Also a plus is the lower U.S. currency, which when it falls makes dollar-denominated metals cheaper for holders of other currencies, which could boost demand and prices.

As for other metals, Copper gained 0.6 per cent to $6,779 a tonne, aluminum was down 1 per cent at $1,852, zinc was up 2.1 per cent at $2,487, lead rose 0.3 per cent to $1,758 and tin climbed 1.8 per cent to $18,650.

In order to strengthen quality management and product research and development, we have established a product laboratory to continuously extend the service life of products and strictly control the quality. For each product, we issue real test data to be traceable, so that customers can feel at ease.

Honesty, commitment and compliance, and quality as our life is our foundation; pursuing technological innovation and creating a high-quality alloy brand is our business philosophy. Adhering to these principles, we give priority to choosing people with excellent professional quality to create industry value, share life honors, and jointly form a beautiful community in the new era.

The factory is located in the Xuzhou Economic and Technological Development Zone, a national-level development zone, with well-developed transportation. It is about 3 kilometers away from Xuzhou East Railway Station (high-speed rail station). It takes 15 minutes to reach Xuzhou Guanyin Airport High-speed Railway Station by high-speed rail and to Beijing-Shanghai in about 2.5 hours. Welcome users, exporters and sellers from all over the country to come to exchange and guide, discuss products and technical solutions, and jointly promote the progress of the industry!