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| Global Supply And Demand Of Nickel In First Half / 09 Got Away From Worst Time |
| = Survey By INSG, World Consumption Of Nickel In Q2 / 09 Improved By 17.9% From That In Q1 |
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INSG (International Nickel Study Group) compiled recently the data on actual quantities of nickel supplied and consumed in the world for the first half (January - June) of 2009 and the contents were as per the table attached hereto. Namely, 563,700 tons of nickel were consumed in the world for the first half of 2009, having had a substantial decrease of 18.6% compared with that (692,300 tons) for the same period of 2008. However, as regards the second quarter (April - June) of 2009, 305,000 tons of nickel were consumed in the world for this quarter as increased by 17.7% compared to that (258,700 tons) for the preceding quarter of January - March of 2009. Accordingly, the global situation on supply and demand of nickel in the first half of 2009 had an improvement and got away from the worst time. Reflecting a crisis of the world economy, stainless steel mills had been driven to reduce considerably their production of stainless steel in the first half of 2009 and this matter was the main factor for a substantial decline of nickel consumption in the world. However, the world consumption of nickel in the second quarter of 2009 had improved to a remarkable extent and, in comparison with nickel consumption in the first quarter (January - March) of 2009, the consumption in the second quarter had recovered in every country of the world. While most of the world countries decreased their nickel consumption, China consumed 185,000 tons of nickel in the first half of 2009 and was only the country in the world, having increased nickel consumption by 7.8% compared to that in the same period of 2008. It is anticipated that China will also increase further their nickel consumption in the second half of 2009, because the output of crude stainless steel in China for the calendar year (January - December) of 2009 is forecasted to exceed a level of 8.00 million tons per annum. On the other hand, the world production of nickel in the first half of 2009 was 662,100 tons, having decreased by 7.2% compared with that (713,400 tons) in the same period of 2008, and this reduction in nickel production was due to the fact that, by taking into account of the decreased demand for nickel, major producers had curtailed their nickel production. However, as far as the second quarter (April - June) of 2009 is concerned, the world output of nickel in this quarter was 341,200 tons as increased by 6.3% from that (320,900 tons) in the first quarter (January - March) of 2009. The world output of nickel in the second half (July - December) of 2009 has been grasped by the strike continued from the 13th of July at the Union of Sudbury Division in Canada of Vale-Inco. The Union of Voisey's Bay mine has followed this strike and, when this strike continues for a long period, nickel production at Vale-Inco will be influenced considerably. The reason is that Sudbury Division produced 85,000 tons per annum of nickel in 2008 and Voisey's Bay mine also produced 78,000 tons per annum of nickel in the year. A global balance on supply and demand of nickel in the first half of 2009 was still unable to get away from the state of an oversupply. Namely, the quantities of nickel oversupplied in the world for the first half of 2009 were an excess of 62,200 tons in January - March quarter and a surplus of 36,200 tons in April - June quarter respectively. Accordingly, the total quantity of nickel oversupplied in the world for the first half of 2009 was 98,400 tons as an excess. |
| last modified : Wed 02 Sep, 2009 [11:02] |
