Proactive Investors quoted Vale as saying that global nickel demand is showing some limited signals of improvement.

Vale estimates that 20% of global nickel capacity is now idle and the company is curtailing its own nickel supply.

Meanwhile, Vale said that the global demand for nickel is showing some improvement. Chinese nickel imports rose by 33% YoY during the Q1 of this year, reaching 60,700 tonnes.

Nevertheless, Vale is continuing to curtail its own nickel production, noting that the demand for nickel from non-stainless steel applications remains weak with only a few exceptions.

(Sourced from Proactive Investor)