According to experts, the nickel market will balance in 2011 and show large surpluses in subsequent years. The startup of new plants and will generate a fall significant progress.
Nickel has gained altitude in the first quarter of 2011. On five occasions, a tonne of gold or green grazed the bar hit the USD 29000 on the market, the London Metal Exchange.
The course has remained high, supported by a stainless steel production continues to rise, the largest market for nickel, but also by a restocking steels and a new series of incidents in production Canada, Colombia and in Japan after earthquake.
Overall, adds the title Economic relying on the remarks of the expert Carl Firman VM MetalsNo fewer than 40,000 tonnes of metal have been lost or postponed.
The increase in production compared to 2010 should reach 30%, against an expected rise of stainless steel making only 9%. In short, the market would suddenly clog. 600,000 tonnes of new capacity expected to come in mining activity over the next four years.
China could deliver 217,000 tonnes of iron, nickel or pig iron, a metallurgical product with unmatched low grade ferronickel furnaces out of the SLN.
For the specialist Mr Carl Firman, no less than 600,000 tonnes of new capacity expected to come in mining activity over the next four years, equivalent to 38% of current production. Provided however that all projects are completed. Among these new complexes in pregnancy include Vale New Caledonia which, has been delayed again KNS in the North on the Koniambo massif, but also Ambatovy in Madagascar, Ramu in Papua New Guinea, the Philippines.
Further delays are likely, Says the expert in the specialist journal, but all projects should eventually end up achieving their goals. Metal demand will change course, but could not absorb all of this massive market. A situation which would lower the price of gold green. The context would then not really conducive to new start up factories eager for financial returns, or the LNS wishes to influence its cost of production.
(Sourced from www.lnc.nc)
