November 1, 2018 / 1:12 AM / a month ago

BRIEF-Glencore PLC Sees A 178 KT Primary Nickel Deficit For 2018

Nov 1 (Reuters) - Glencore PLC:

* PROJECTS A 178 KT PRIMARY NICKEL DEFICIT FOR 2018

* SEES NPI PRODUCTION IN INDONESIA AT 250-260KT IN 2018, 320-330KT IN 2019, AND 380-400KT IN 2020

* INDONESIAN NPI SUPPLY ACCELERATES, BUT CHINESE NPI HAS UNDERPERFORMED YEAR-TO-DATE DUE TO ENVIRONMENTAL RESTRICTIONS

* “AS EVIDENCED BY SUBSTANTIAL INVESTORY DRAWS, NICKEL PRODUCERS ARE UNABLE TO SERVICE DEMAND”

* “DO NOT EXPECT MATERIAL NON-NICKEL PIG IRON SUPPLY GROWTH FROM MAIN ACTORS”

* “STRONG EXPECTATION THAT SIZEABLE DEFICITS WILL CONTINUE IN THE FUTURE EVEN AT/BELOW TREND GROWTH”, REFERING TO NICKEL MARKET Further company coverage:

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