China favors stainless scrap alternative

Oct 31, 2011 | 04:49 PM | Michael Marley

Tags  stainless scrap, BIR, China, Sven Tollin, Barry Hunter, Michael Wright, Michael Marley

PHILADELPHIA — Although China has sharply boosted its consumption of nickel pig iron, the London Metal Exchange’s nickel price will still play a key role in determining the price of nickel pig iron as well as primary nickel, according to an industry analyst.

Speaking at the Bureau of International Recycling (BIR) Stainless Steel and Special Alloys Roundtable in Munich, Germany, Sven Tollin pointed to the steep rise in China’s nickel pig iron production—to 170,000 tonnes last year from zero in 2005—as well as the sharp decline in the country’s stainless scrap imports to 80,000 tonnes last year from 380,000 tonnes in 2009.....

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