China to Run Up its Share in Global Nickel Consumption 31%

Nickel consumption in China is mounting rapidly due to fast-paced urbanization across the country and increasing use of the metal in the industrial development sector.

RNCOS has recently released a new research report- ¡°Global Nickel Market Analysis¡± -which says that nickel consumption in China will account for 31% of the global consumption by 2011.

As per the report, China is the world¡¯s biggest nickel consumer and produces a significant volume of the metal. In fact, half of the incremental global demand for nickel is due to rising consumption in China. Moreover, the metal is used in every sector of industrial development; as a result, the demand for nickel is rising stupendously.

Particularly the demand for nickel-based stainless steel (or austenitic steel) is soaring at a rapid pace in China, says the research.

The RNCOS report further says that rapid urbanization in China is expected to drive the demand for stainless steel, which, in turn, will increase the nickel consumption in the country.

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