Vale forecasts Ni surplus, Cu deficit in '21

Brazilian miner Vale SA expects a small surplus for nickel and a deficit for copper this year. Fundamentals for both metals are robust long term due to their link to the electric vehicle (EV) market.

"While demand continues to recover, we see the market in small surplus in 2021 as demand for nickel faces countervailing forces, Covid-19 lingers and resilient production in China and Indonesia adapts to changing demand fundamentals," the Rio de Janeiro-based company said in its quarterly earnings report on Monday April 26.

"Our long-term outlook for nickel remains very positive, driven by strong demand in the EV...

Published

Thorsten Schier

April 27, 2021

19:56 GMT

New York