Sudbury Saturday Night -- Nickel Mining & Nickel Prices Message Board

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Gold/Mining/Energy : Sudbury Saturday Night -- Nickel Mining & Nickel Prices

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From: John McCarthy	3/17/2007 4:22:51 PM
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Worth repeating ..... RNCOS report “Nickel Market Outlook (2007)” observes that nickel demand has risen with the rising prices of nickel scrap. The growing nickel demand is mainly attributed to the mounting demand for stainless steel. The supply-demand gap for nickel is widening with limited supply and growing demand. Considering the current situation, the demand-supply equation is anticipated remain out of balance till 2010. Moreover, market risk factors, like labor unrest, strikes, feed shortages, adverse weather conditions, slow restarts, and extended maintenance, would further restrict the supply side. About two-third of the total nickel output (world) is used in the manufacturing of stainless steel, *and the industry demand is projected to surge by 7.5% this year.* Almost 70% of the stainless steel products manufactured by Indian makers have a nickel content at a low 1-4%, but the price hike would still affect them greatly. "One percent nickel accounts for $400 per ton in the final cost of making stainless steel at current nickel prices. So it is still very expensive," said Mathur. Message 23378052

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