It was forecast that China would not be producing as much stainless steel during the Olympic Games. Part of this impact is being felt now in terms of Ni price. It has also been talked about that at these prices Companies would not be economic to run and would be forced to close.

These are hurdles we know are going to have to be faced. There are real fears about the economy. Can Liberty succeed and if it

does what price will Ni be? Look also at these charts in terms of the Olympics in China are are the 8th to the 24th Aug and they were planning to cut back production 2 months before so that would be around the 8th of June.

China is not the whole story - the US economy is bad too - it is the summer doldrums.