Nickel substitution ratio rises 2014 nickel prices continue to pressure

发布时间：2013-12-14 点击次数：7次 来源：原创

SMM November 21stnews: the Shanghainonferrous metals NetworkAnalyst Wang Haoyang in2013Chinanon-ferrous metalindustry19annual meeting,2014electrolytic nickelprices will continue tobethe fundamentalsuppression,andpressure frommore,morelow-cost supply ofnickelpig iron[coloredopportunities: alternative 10-5nickelpig iron.

As of November 19th,the internationalnickel priceat $13630/ ton,since this yearthe cumulative declinehas reached 22.93%,the biggest decline innearly 30%years.

From the globalview,stainless steelconsumption accounted for67% ofnickelconsumption,andChinesestainless steelconsumption accounted for85%of nickelconsumption.However,Chinesestainless steel enterprisesuse large amounts ofnickelpig ironproduction,while thenonelectrolytic nickel.According to SMM research,in the domesticsteel enterprisesraw materialsaccounted forin2013,nickelpig iron using theproportion from40% in 2010 tonearly 60%over the same period,the proportion ofthe use ofelectrolytic nickeldropped.

Wang Haoyang expected,although the futureproductivityof stainless steelwill be expanded,butdifficult to drive theelectrolytic nickelconsumption,due to the use ofnickelpig ironratio willcontinue to expand.

According to the SMMsurvey,in 2013 the domesticproduction of stainless steelmaterialto 19620000tons,an increase of 19%,is expected in 2014 as thenew capacityput into production,stainless steel productionreached 21000000tons,andnickelpig ironratiois expected tocontinue to expand inthe raw materials.The reasonis that with a largeproductionof RKEF andthe high cost ofthe elimination of backward production capacity,domesticnickelpig iron outputwill be more,andthe production cost will belower.Expected in 2013domesticnickelpig ironoutput rose 34% to485000 tons.

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