Nickel/More nickel booked on contract for 2007

摘要

World consumption of nickel continues to be very robust, driven by exceptionally strong growth in stainless steel production. Despite easy availability of scrap, primary nickel consumption is estimated to have increased by 18.7 percent year-on-year in H2 2006. Solid gains have occurred in most of the key consuming regions but it has been the strength of European demand that has really stood out. Following three years of decline, Western European nickel consumption has increased by 11.6 percent in 2006. Recent developments in the stainless steel market (see Stainless Steel section), point to a more sedate pace of growth in world nickel consumption for next year. That said there has been no sign of consumers holding back in their efforts to secure greater quantities of nickel on contract for 2007. Most large consumers are looking to book at least 90 pecent of their requirements on contract compared with 80 percent in 2006. Premiums for 2007 contract business are also likely to be significantly higher, up by 50-100 percent.