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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1913)	12/11/2003 2:42:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

ANALYSIS-Why China is scooping up Europe's old coins Reuters, 12.11.03, 5:06 AM ET By Polly Yam and Declan Conway HONG KONG/LONDON, Dec 11 (Reuters) - A pocketful of centimes or pfennigs won't get you far in Europe these days, but in China they might just be worth their weight in nickel. Such is China's voracious appetite for raw materials to feed its rapidly growing economy, that the country is snapping up the obsolete coins and melting them down for their metal content. The Asian giant, with booming construction and automobile sectors, is scouring the globe for every piece of scrap metal it can lay its hands on -- and France is one country that has a ready supply of much-sought-after nickel-containing coins. "The stainless steel producers can just put them (the coins) into their furnaces as nickel feed," said a trader in China, who added the coins are often tendered by French suppliers. forbes.com