HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: Nickel market expected to stabilise in '08 - Norilsk
Nickel market expected to stabilise in '08 - Norilsk
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By: Matthew Hill
Published on 21st April 2008
The nickel market will begin to stabilise in 2008 as speculators move away, after a highly volatile environment last year, the biggest producer of the metal, used to make stainless steel, said on Monday.
Russian giant Norilsk Nickel general director Denis Morozov said that the firm had exported $640-million worth of nickel to China in 2007, which would continue to grow in 2008.
Norilsk Nickel also said that China would remain the nickel market's major driving force in 2008, as it had been over the past few years.
"The year 2008 will be the time of stability, and the highly volatile environment of 2007 is very unlikely to occur with speculators reducing their focus on the nickel market," Morozov said in a statement posted on Norilsk Nickel's website.
Norilsk last year forecast a deficit in the nickel market, after project delays curbed supply growth.
The Russia-based company is also the world's biggest palladium producer.
Editor: Mariaan Olivier
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