Part of the reason is the high stock levels in holding yards, however ship port levels are down quite a bit, which will flow onto the warehouses over the next few months. Also the price is low because of the high supply over the last year(s).
With the emerging middle class in China (and to a small extent, India), combined with the rapid growth in some western countries, the demand for nickle will pick up in 2016 > onwards i suspect.
AVQ are very well placed to supply great quality at low cost anyway, so the price of nickel inevitability rising (which i suspect will be Q1 / Q2 2016) will be the icing on the cake for us.
Everything is cyclical - AVQ is clearly taking advantage of the 'down time' to build a world class exporting operation ready to exploit the coming price rise.
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Part of the reason is the high stock levels in holding yards,...
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