Strong Chinese demand to underpin high nickel price
Wednesday, June 6, 2007 10:15:43 AM
http://www.afxpress.com
LONDON (Thomson Financial) - Strong demand for nickel, particularly in China,
will keep nickel prices at high levels, a miners conference heard Wednesday
"Most analysts feel China will continue to grow strongly. Unless the country's
economy significantly falters, nickel prices at least until the end of the
decade, will be strong and stable," said Darma Ambiar, director of PT Aneka
Tambang
Ambiar, who was attending the 7th Asia Pacific Mining Conference in Manila,
said China's strong consumption of base metals, including nickel, ensures the
profitability of state-run PT Aneka Tambang
He projected nickel prices to average 8.54 usd per pound in the next 10 years,
from an average of 3.04 usd per pound from 2002 to 2003
"The outlook for nickel prices is very, very positive and our company is
looking for various opportunities to increase output," Ambiar said
Aneka Tambang will keep nickel production steady at 14,500 metric tons this
year, before raising it to 20,000-22,000 metric tons in 2008 when its new plant
is scheduled to start running at 85 pct of its operating capacity
Aneka Tambang is Indonesia's second largest nickel producer
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