China nickel pig iron output to fall

Print this page Posted on : 03-31-2009 by recycleinme.com

China's production of nickel pig iron will be much lower this year as falling metal prices erased the cost advantage of the substitute in the world's largest consumer, said Shanghai Tsingshan Mineral Co Ltd. Output will fall from about 86,179 tonnes in 2008, Mr Jiang Xinfang, President-Director at Shanghai Tsingshan, said at a conference in Hong Kong. Mr Xinfang did not quantify the expected decline. Nickel prices have dropped 68 per cent in the past year as stainless steelmakers cut purchases of the rust-proof raw material.

Source : Business Line