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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (17592)	4/11/2008 11:49:07 AM
From: LoneClone	Read Replies (1) \| Respond to of 193918

Nickel price predicted to be drop in Q3 this year steelguru.com Mr Liu Boya an analyst of Macquarie Bank said in a meeting that nickel price predicted to be drop in the third quarter this year. Nickel price remained strong in the second quarter because stainless steel production was in the peak season. The increasing demand for stainless steel is likely to promote nickel price to USD 35,000 to USD 40,000 per tonne from the current USD 29,000 per tonne. But after this period, nickel price will begin to drop gradually. Nickel price will drop back to USD 18,000 to USD 25,000 per tonne from 2009 to 2010, and USD 12,000 to USD 15,000 per tonne after the year of 2011. Stainless steel output slowed down since the year of 2007. Crude stainless steel output in 2007 was 7.50 million tonnes and predicted to reach about 9.0 million tonnes in 2008, the average growth rate in the next few years predicted to reach 10%.