| Imports of nickel ores and
concentrate by China climbed to a record in May as nickel pig iron
producers ramped up output to meet demand from stainless steel makers.
Ms Xu Aidong senior analyst at Beijing
Antaike, said that output of the low cost
substitute for refined nickel in China may surge 50% this year to 240,000 tonnes from 160,000
tonnes in 2010. She expects production capacity to reach 500,000 tonnes
this year with another 500,000 tonnes planned over the next 2 years.
Baoshan Iron & Steel Company said that
refined nickel use in production of the alloy fell to a record low in May
as the company used more nickel pig iron and scrap. About two-thirds of
global nickel production goes into stainless steel, used to make
everything from kitchen sinks to aircraft-fuel tanks.
Source: Bloomberg
Related Links:
Laterite-Nickel Ore Inventories at Chinese Ports on June 24, 2011
China's May Nickel Ore Imports Hit New High |
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