Hagabat in Philippines hikes Chinese nickel demand-Shanghai Metals Market

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Hagabat in Philippines hikes Chinese nickel demand

Industry News 05:29:51PM Oct 15, 2014 Source:SMM

Author: Paul Ploumis
15 Oct 2014 Last updated at 05:50:58 GMT
MANILA (Scrap Monster): The miners in the Philippines stated that they had already made facilities to accommodate all the orders in the year 2014, as they forecasted the arrival of Habagat, or the seasonal rain. The deficiency in nickel is going to affect China the most, as the ban on nickel from Indonesia, and the seasonal unavailability of nickel from, Philippines, will be the worst time for the vast stainless steel industry in China, moreover that, this phenomenon will lead to the hike in nickel in the global market.

The majority of miners in the Philippines, are anticipating on halting their mining operations from the month of October or from November, until next year, in the month of January or February. After the export ban issued by Indonesia, the Philippines, emerged as the top provider of nickel pig iron, all over the globe, especially in China, as it is the key ingredient used in the production of stainless steel.

Analyst in ANZ Sydney, Daniel Hynes, stated that the Chinese Nickel Pig iron producers would not be able to provide the stainless steel industry with bulk of nickel ore, so the industry will have to find some other source to meet up with their demands.
 

Hagabat in Philippines hikes Chinese nickel demand

Industry News 05:29:51PM Oct 15, 2014 Source:SMM

Author: Paul Ploumis
15 Oct 2014 Last updated at 05:50:58 GMT
MANILA (Scrap Monster): The miners in the Philippines stated that they had already made facilities to accommodate all the orders in the year 2014, as they forecasted the arrival of Habagat, or the seasonal rain. The deficiency in nickel is going to affect China the most, as the ban on nickel from Indonesia, and the seasonal unavailability of nickel from, Philippines, will be the worst time for the vast stainless steel industry in China, moreover that, this phenomenon will lead to the hike in nickel in the global market.

The majority of miners in the Philippines, are anticipating on halting their mining operations from the month of October or from November, until next year, in the month of January or February. After the export ban issued by Indonesia, the Philippines, emerged as the top provider of nickel pig iron, all over the globe, especially in China, as it is the key ingredient used in the production of stainless steel.

Analyst in ANZ Sydney, Daniel Hynes, stated that the Chinese Nickel Pig iron producers would not be able to provide the stainless steel industry with bulk of nickel ore, so the industry will have to find some other source to meet up with their demands.