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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (614)	7/24/2001 10:09:13 PM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Monday 23 July 5:15 PM WMC sees 4 pct/yr nickel demand rise au.dailynews.yahoo.com By James Regan KALGOORLIE, Australia, July 23 (Reuters) - Australian miner WMC Ltd said on Monday it expected world nickel demand to grow by 40,000 tonnes a year or four percent starting in 2002, but added that current demand was suffering from global economic weakness. WMC, which is finalising an agreement with Aboriginal landholders by October over mining rights for a big nickel deposit in the Western Australian outback, dismissed the current softness in nickel prices as temporary and linked to faltering global industrial production. "The world economy is fairly soft and we are seeing that softness in nickel prices," Alan Dundas, general manager of WMC's nickel division said. "But the attractiveness of nickel is that it has a growth of around four percent per annum ... that's the strongest for any of the metals," he said. Benchmark London Metal Exchange nickel last traded at around US$2.69 a pound ......................................................................................................................... NICKEL PROFITS Dundas said WMC's nickel division continued to turn a profit at current nickel prices, but warned if prices were to fall to about $2.50 a pound, "you will see the upper end of the cost curve start to experience some stress." "Realistically, I would think it would be more likely to be in the two-fifty to three dollar (per pound) range than two to two-fifty or three to three-fifty," he said.