China nickel pig iron plants likely to cut output as ore prices soar

Posted on April 9, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

HONG KONG, April 9 (Reuters) – Producers of an alternative to refined nickel in China are expected to cut output as prices for ore imports have nearly doubled since end-February in the wake of a ban on shipments by top exporter Indonesia.

Reduced supply of nickel pig iron could mean the world’s top consumer of nickel would increase its use of the higher grade refined metal, underpinning global prices that have already risen about 16 percent this year.