BLBG: Nickel Supply May Stay in Surplus This Year, Antaike Says
By Bloomberg News
April 22 (Bloomberg) -- Nickel may stay in surplus in 2010 as China’s output climbs, according to researcher Beijing Antaike Information Development Co.
Global production of the metal, used to increase the corrosion-resistance of stainless steel, may exceed demand by 21,000 metric tons, compared with a surplus of 37,000 tons in 2009, Xu Aidong, an Antaike analyst, wrote in slides for a speech she will deliver today at a Beijing conference.
China’s nickel output may rise to 313,000 tons this year from 278,000 tons, driven by a rebound in nickel pig iron production, she said. Consumption may be 447,000 tons this year from 442,000 ton last year, she said.
Accumulated inventories in the country may have been as much as 140,000 tons at the end of last year, Xu said.
--Xiaowei Li. Editors: Richard Dobson, Jake Lloyd-Smith.
To contact the Bloomberg News staff on this story: Li Xiaowei in Shanghai at Xli12@bloomberg.net
