Nickel in China

摘要

Stainless melted production by Chinese mills is set to grow 16% y/y in 2013, up from 14% in 2012. This will be the ninth year in ten - and the fifth in a row - of double-digit growth with the only blip a 2% decline in 2008 in the midst of the global financial crisis. As noted in the previous edition of this report, stainless output continues to exceed industrial production (IP) both on a quarterly basis and on an annual basis. We do not expect annual production growth to slow below headline IP until 2017, the penultimate year of the forecast period.