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To: Zeev Hed who wrote (7053)	9/29/1998 7:07:00 PM
From: goldsnow	Respond to of 10921

OT-Nickel Possible shortage. The largest World producer located in freezing corner of the world and ravaged to unthinkable point- is facing unimaginable problems... Norilsk Nickel gives no word -2 03:11 a.m. Sep 29, 1998 Eastern Norilsk Nickel gives no word -2 ''Management believes that increasing the share of wages in total operating costs, already up from 24 percent last year to 30.6 percent this year, would only be possible by drastically cutting production and staff numbers at the same time,'' the statement said. ''But the path of increasing salaries through staff reductions would be irresponsible,'' it added. Management and unions instead agreed that bonuses would be paid to employees and pensioners. The statement outlined a range of benefits which would be guaranteed at current prices, but said nothing about where the money would come from. Earlier talks in the remote city of Norilsk had focused on anti-crisis measures including possible cuts in production and staff. Norilsk Nickel is Russia's largest producer of nickel, copper, cobalt, platinum and palladium. Nickel prices are hovering near 11 year lows, leading to widespread belief Norilsk would have to cut output. ((Moscow Newsroom, +7095 941-8520 moscow.newsroom+reuters.com)) Copyright 1998 Reuters Limited

To: Zeev Hed who wrote (7053)	9/30/1998 7:11:00 AM
From: Mason Barge	Respond to of 10921

MORE GOOD NEWS! Micron up yesterday on a better-than-expected loss (although still pretty dismal IMHO). But much better news this morning (at end of post). Folks, it's time to buy if you want to be sure of your seat when the train leaves the station (or -- pleasant dreams -- when the missile leaves the launching pad). When a recovery becomes at all visible, the entire sector is going to bounce 20%. Read your history: <<AMSTERDAM -- Philips Electronics NV confirmed longstanding plans to invest in a new semiconductor manufacturing facility, a move that suggests the two-year industry slump may be nearing an end. Philips said it will join with Taiwan Semiconductor Manufacturing Co. and EDB Investments, the investment arm of Singapore's Economic Development Board, to build a $1.2 billion facility in Singapore's Pasir Ris Wafer Fabrication Park. The Amsterdam-based electronics giant will own 48% of the venture, which will begin production in the second half of 2000. TSMC will own 32% and EDB will take the remaining 20%. Philips, which holds a 27.6% stake in TSMC, has cooperated with the Taiwanese foundry on projects in the past, helping to defray the high capital expenditure associated with new chip plants. The announcement comes after a punishing period for the semiconductor industry due to overproduction and falling prices. According to latest figures from Dataquest, an industry-research company, world-wide semiconductor revenues will fall 6% in 1998. More than $38 billion in capital expenditure was canceled or shelved this year, said analysts, as semiconductor manufacturers struggled to rein in production capacity. In recent weeks, some analysts have been taking a cautiously optimistic outlook, noting the boom in demand for chip-driven products such as mobile phones and television set-top boxes, and the reduction in personal-computer inventories. The investment "is a sign that people think the market will recover in a couple of years," said Jean-Phillips Dauvin, chief economist at semiconductor maker STMicroelectonics NV. Mr. Dauvin sees semiconductor revenues growing between 5% and 8% in 1999. He added that the consumer applications in which Philips specializes are growing faster than the average market. Philips's new plant will produce logic chips -- which manage the flow of data around electronic products -- using state-of-the-art equipment that can make lines of circuitry that are 0.18 micron in width. Construction will begin in early 1999 and production will start in the second half of 2000. Full production capacity is scheduled for 2003. "Our projections show that by the time this new facility comes on stream, the market for logic chips will be strong," said Arthur van der Poel, chief executive of Philips's semiconductor division.>>

To: Zeev Hed who wrote (7053)	9/30/1998 7:15:00 AM
From: Mason Barge	Read Replies (1) \| Respond to of 10921

<<Mason, I hear that 95% of the Nickel smelters are currently working at a loss, is there still a shortage?>> Zeev, I have absolutely no idea, sorry to give the impression that I follow this. My comment was simply that nickel is used in sufficient commercial quantities to make a shortage feasible, unlike the use of rare metals for computer applications.