Sumitomo to cut nickel output:
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Sumitomo metal Mining Co, Japan’s largest nickel producer, plans to cut electrolytic nickel output by 11 percent in the April-September period due to tight raw material supply. The company has forecast production of 14,500 tonnes of refined nickel in the six month period, down from 16,300 tonnes a year earlier and from 15,800 tonnes in the six month period ended march 31, it said in a statement. Ferronickel production was planned to rise 20 percent in the period due to domestic market demand, said Mr. Satoshi Oku, a Sumitomo Metal Mining spokesman in Tokyo.
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Source : Business Line |
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