«Vale» plans in 2011 to obtain from the exploitation of «Goro» own nickel mine revenue of $ 4.5 billion, and the company «Xstrata», the mine operator «Koniambo», hopes by 2012 to bring a profit from its activities in the $ 3 level (among the world's major producers of nickel «Vale» and «Xstrata») 85 billion. At the same time the two companies, by their own admission, have to now attentively follow the dynamics of the global production of nickel pig iron, which not only confuses the existing price of pure nickel, but also threatens to put the latter producers to the brink of overproduction. Since the November price of nickel on the LME exceeded the psychological barrier of $ 22 thousand. / Ton, the production of nickel pig iron (becoming profitable, if the price rises above $ 18 thousand. / Ton) in China quickened markedly. According to recent data, in 2010, the nickel pig iron accounts for about 10% of world demand for nickel.
17 November 2010
The increase in nickel prices has increased the production of nickel pig iron
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