Chinese nickel unstable due to low nickel price

Mr Wang deputy director of China Metals Materials Trade Association said that China's domestic stainless steel market is currently quite confusing due to the continuing downward drift of nickel prices in the global market.

He added that, on the other hand, some stainless steel producers are focusing on substitutions of other stainless steel products to meet their needs. For example, the modern technology and processing craftwork and art decoration with development and application of nickel free as ferrite stainless steel is much better. Meanwhile, chrome manganese nickel stainless can use ferronickel instead of pure nickel in order to offset the high prices of nickel.

Mr Wang also predicted that the global nickel consumption goes up by around 66% in 2008 along with 69% up in China's consumption.
 

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