John

China for April

May 29, 2008

China imports 1.99 million tonnes of nickel ore in April

"According to statistics from China’s Customs, China imported 1.99 million tonnes of nickel ores in April up by 35.7% MoM and the average import price was USD 173 per tonne.

China has cumulatively imported 5.55 million tonnes of nickel ores in first four months in 2008 up by 44% YoY.

Now total nickel ore inventories at ports in China is as high as 7.8million tonnes, but weak domestic ferronickel market could not absorb this volume."

This is a good read as well. Looks like their Environmental agency is cracking down on certain size blast furnaces.

http://www.businessspectator.com.au/...

"Many nickel pig iron producers can only break even when refined nickel prices are over $US20,000 a tonne. Nickel pig iron can be used to make low quality stainless steel more cheaply than by using refined nickel."