Page 149 from: May 2008
still being influenced by government-
enforced production cuts in response
to continuing power shortages. The
52% ferro-chrome price has increased
to US$ 2.10 per lb while charge
chrome prices containing 50-55% Cr
have advanced to US$ 2.05.
The price of ferro-molybdenum
(65-70% Mo) has remained in the
range US$ 77.50-80 per kg while
ferro-vanadium (70-80% V) has
improved slightly to US$ 63 per kg.
Ferro-tungsten (75% W) has been
selling for US$ 36.50 per kg whereas
ferro-titanium (70% Ti) has remained
flat at some US$ 8.50-8.70 per kg.
Cobalt has been quoted somewhat
higher at US$ 51.50 per lb for high-
grade material and US$ 48 for low
grade.
Talk has resumed of the possibility of
the LME launching a cobalt contract
for 99.3% metal. Demand for cobalt
is on the increase, notably from the
aircraft and battery industries, while
the upturn in hybrid car production is
try, exports of nickel and its alloys
plummeted 76% in March compared
to the same month last year. Total
exports in the first quarter of 2008
plunged 79.5% to 1346 tonnes,
according to figures released by the
China Customs Office.
Meanwhile, the country’s refined
nickel imports jumped 26.7% to
9808 tonnes in March while the
first-quarter 2008 figure was 20.7%
higher than in 2007 at 35 688
tonnes. When compared to the cor-
responding month of 2007, China’s
nickel production climbed 21.4% in
March to 11 957 tonnes.
Also in relation to last year, China’s
stainless steel production was 25%
higher in March at 113 689 tonnes.
Exports increased 9% to 76 314
tonnes while imports surged to 37
375 tonnes – their highest monthly
level so far this year.
In China, the domestic price of nickel
for immediate delivery hovered around
Yuan 240 000 per tonne (US$ 34 286)
during April and, at the month-end,
stood at Yuan 238 750 (US$ 34 107)
on the Shanghai Yangtze spot market.
Chinese buyers appear uninterested in
building stocks and are adopting more
of a wait-and-see approach to the
market.
North America
The International Nickel Study Group
is anticipating a 13.1% jump in glo-
bal primary nickel consumption this
year to 1.47 million tonnes; this would
compare to a 7.1% drop in 2007.
With the same organisation also pre-
dicting an all-time-high production of
1.54 million tonnes in 2008, a world-
wide surplus of 70 000 tonnes is indi-
cated.
Analysts at Société Generale expect
LME cash prices to sink towards the
US$ 20 000 per tonne mark (US$ 9.07
per lb) whereas more bullish research-
ers at Macquarie are forecasting a
nickel average of US$ 13.53 per lb for
2008.
Nickel & Stainless
advertisement
also likely to boost cobalt consump-
tion. The metal’s value has reached
US$ 50 per lb this year, which is dou-
ble the price recorded at the end of
2007. At the end of April, the LME
price stood at US$ 49 per lb.
Europe
Experts still consider the fundamen-
tals of the nickel market to be
healthy, with many arguing that
stocks remain at critical levels.
In contrast to gently falling LME pric-
es, nickel cathodes have moved higher
in Germany and were recently attract-
ing US$ 30 712 per tonne. In the case
of alloyed scrap, meanwhile, prices of
US$ 2900 and US$ 4300 per tonne
were being paid for, respectively, the
V2A (304) and V4A (316) qualities.
China and elsewhere
in Asia
With the Chinese government con-
tinuing to pursue a policy aimed at
keeping resources within the coun-
g i v i n g e a r t h i t s s e c o n d n a t u r e
Wervikstraat 320 • B 8930 Menen • Belgium • Tel.0032 (0)56.52.13.00
Fax 0032 (0)56.52.13.10 • Email: [email protected] • Website: www.galloo.com
OUR GOAL: 100% RECYCLING
Group Galloo Recycling is one of the principal
recycling companies of ferrous and non-ferrous metals
in Europe. Group Galloo Recycling annually treats
1.000.000 tons of ferrous scrap, 60.000 tons of non-
ferrous metals, 20.000 tons of plastics and 100.000
tons of shredder residues. By investing permanently in
new technologies, the group aims at a 100 % recycling.
RI_086_MA_Stainless.indd 3 14-05-2008 14:09:20
