Steady stainless.Although nickel producers have some new mining projects underway, the current tilt toward more demand than supply could stay in place in the nickel sector through 2005. A panel of speakers assembled at the Pittsburgh Chapter of the Institute of Scrap Recycling Industries Inc. (ISRI ISRI Institute of Scrap Recycling Industries ISRI Institute for Software Research, International (Carnegie Mellon University) ISRI Information Science Research Institute ISRI Intelligent Systems Research Institute ) annual Nickel-Stainless Roundtable said demand from China and reviving U.S. and Japanese economies should keep nickel prices aloft and demand strong for stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. scrap. "The outlook for nickel is still fundamentally strong for the next two years," said John Vorberger, sales and marketing manager of special products with Eramet North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Coraopolis, Pa. The production of mined nickel ore is not scheduled to increase until 2006, when an expansion of Eramet's mine and smelter in New Caledonia New Caledonia, Fr. Nouvelle Calédonie, internally self-governing territory of France (2005 est. pop. 216,000), land area 7,241 sq mi (18,760 sq km), South Pacific, c.700 mi (1,130 km) E of Australia. will be complete. Between 2007 and 2010, two major production facilities--including Inco's Voisey Bay project in Canada--should help boost the supply of nickel ore. Former nickel trader Martin Abbott, now publisher of American Metal Market, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , said several potential problems could cause nickel demand and pricing to recede re·cede 1 intr.v. re·ced·ed, re·ced·ing, re·cedes 1. To move back or away from a limit, point, or mark: waited for the floodwaters to recede. 2. in the next several years, though emerging industrial economies in China and India remain formidable growth factors. By and large, Abbott said these are enjoyable times for metals companies. "Now, finally, it's worth investing in metals again. The industry is catching up after [several] years of underperformance." (Additional news about nonferrous scrap, including breaking news and consuming industry reports, is available online at www.RecyclingToday.com.) |
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