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Chinese nickel imports could fall, says Macquarie
June 08, 2009 - 15:13 GMT
Location:
London
KEYWORDS:
nickel
,
nickel pig iron
,
jethro wookey
,
macquarie
China’s historically high nickel imports in the first quarter have prompted some steel mills in the country to plan production cuts to run down high stock levels, research group Macquarie said
“The rapid ramp-up of domestic production has led to a gradual build-up of stainless steel stocks,” Macquarie said in a report. “Some state-owned steel mills in China are adjusting their production utilisation rates down in June, especially for the austenitic products, by 5-10% month-on-month.”
According to Chinese customs figures, China imported 53,535 tonnes of refined nickel in the first quarter, up 16% from the corresponding period of last year. Ferro-nickel imports almost trebled to 77,250 tonnes from...
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Euromoney Institutional Investor PLC.
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