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

To: LoneClone who wrote (41924)	8/20/2009 8:56:44 PM
From: LoneClone	Read Replies (1) \| Respond to of 194794

Chinese nickel stocks totals 100,000 tonnes at present - Report (TEX) Updated: 2009-08-20 16:14 chinamining.org Antaike has expressed recently that the total quantity of nickel stocked in China as of present time is estimated to have reached a scale of 100,000 tonnes. The activities to invest in nickel are supposed to have still had a fever in China. While China consumed 181,000 tonnes of nickel in the first half of 2009, the quantities of nickel supplied in China for that period were viewed as imports: 181,000 tonnes, domestic production: 96,000 tonnes and total: 277,000 tonnes. However, according to the latest information, the purchases of nickel by China in July to August are thought to be calming down somewhat. The estimated consumption of nickel by China for the first half of 2009 had a decrease of 4.3% compared with that in the same period of 2008 but this decrease of the consumption is thought as a moderate extent compared to a sharp decline on the world level. LME nickel prices at the 6th of August had risen to a higher level than USD 20,000 per tonne for both of cash and three month futures and, although those at the 7th had fallen somewhat, recorded the highest ones since August of 2008. According to the customs statistics released in China, this country imported approximately 185,000 tonnes on content base of nickel in the first half of 2009. On the contrary, in spit of a fever to invest in nickel as mentioned above, the consumption of nickel in China for the first half of 2009 was depressed and had a decrease of 4.3% from that for the same period of 2008. Therefore, Antaike analyzed that approximately 100,000 tons of nickel stocks are supposed to have existed in distribution sector of China. China imported 185,000 tons of nickel in the first half of 2009 and the contents were nickel metal: 118,000 tonnes, nickel oxide: 31,000 tonnes, ferronickel: 25,000 tonnes and nickel matte: 10,000 tonnes. In addition, China imported 5,400,000 tonnes of nickel ore in the first half of 2009, corresponding to 81,000 tonnes of nickel content calculated on the basis of Ni 1.5% in ore, and this quantity on nickel content base will still exist as the buffers for nickel supply.