Nickel is a silvery -white hard metal. This element, abundant in nature, possesses many useful properties including durability, high corrosion resistance and a high melting point. Is not only useful in pure form, but can also be combined with other metals for the formation of alloys, and with non-metallic elements for the formation of compounds, finding wide use in both cases.
The nickel is much more abundant in the deeper layers of the Earth
The main producer of nickel is Canada, but deposits are also found in Russia, Australia, Cuba and Indonesia.
MAIN USES
Stainless Steel
The main use of nickel as metal alloy, along with chromium and other metals, in the production of stainless steel. Stainless steel is used in the field of transport and chemical processing, as well as in equipment for food processing.
Other alloys and compounds
The main use of nickel as metal alloy, along with chromium and other metals, in the production of stainless steel. Stainless steel is used in the field of transport and chemical processing, as well as in equipment for food processing.
Coin
The oxidation resistance of nickel makes it a suitable material to the minting of coins.
THE MARKET OF NICKEL
The trading of nickel on the London Metal Exchange (LME) started in 1979. Official prices are established during the second trading session (or ” ring”) of the day, from 13.00 to 13.05.
The factors that affect the price of nickel are:
- Chinese growth
- Limits of application:
- Demand for stainless steel
Substitution by other metals
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