PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: RNCOS E-Services (P) Ltd

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Nickel Prices Shooting High Making Indian Stainless Steel Lackluster - Rising nickel prices and recently introduced duty changes are raising the worries of Indian stainless steel manufacturers, as soaring prices will hit their profit margins badly
Nickel Prices Shooting High Making Indian Stainless Steel Lackluster

 

NewswireToday - /newswire/ - Delhi, New Delhi, India, 2007/03/17 - Rising nickel prices and recently introduced duty changes are raising the worries of Indian stainless steel manufacturers, as soaring prices will hit their profit margins badly.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Mining/Metal/Mineral Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

A top industry official reported on January 31, 2007 that burgeoning global prices of nickel together with recently introduced reduced duty on a variety of finished metals would shrink the margins of Indian stainless steel manufacturers.

N.C. Mathur, President, Indian Stainless Steel Development Association, informed Reuters that a rise in nickel prices from $26,000 per ton in 2006 to $36,000 per ton had shocked the industry. Changes in duty of a number of commodities by the Indian government as a part of the move to check the rising inflation will make the imports more competitive, thereby adding to the manufacturing firms’ woes.

Mr. Mathur says, “Customers don't want to accept high prices in Asian markets and we have to absorb the price. That will hit the margins in the current quarter (January-March). The previous two quarters have been good".

The nickel industry has been responding to the news of disruptions at manufacturing sites and at inventory levels. A threatened strike at Xstrata, a major nickel producer in Canada that accounts for a mere over 4% of the global smelting capacity, has taken the prices higher.

About two-third of the total nickel output (world) is used in the manufacturing of stainless steel, and the industry demand is projected to surge by 7.5% this year. Almost 70% of the stainless steel products manufactured by Indian makers have a nickel content at a low 1-4%, but the price hike would still affect them greatly.

"One percent nickel accounts for $400 per ton in the final cost of making stainless steel at current nickel prices. So it is still very expensive," said Mathur.

RNCOS report “Nickel Market Outlook (2007)” observes that nickel demand has risen with the rising prices of nickel scrap. The growing nickel demand is mainly attributed to the mounting demand for stainless steel. The supply-demand gap for nickel is widening with limited supply and growing demand. Considering the current situation, the demand-supply equation is anticipated remain out of balance till 2010. Moreover, market risk factors, like labor unrest, strikes, feed shortages, adverse weather conditions, slow restarts, and extended maintenance, would further restrict the supply side.

About RNCOS

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Mining/Metal/Mineral Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: RNCOS E-Services (P) Ltd

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Mining/Metal/Mineral articles,
CATCH Visitors via Your Competitors Announcements!


Nickel Prices Shooting High Making Indian Stainless Steel Lackluster

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Shushmul Maheshwari 
+91 12 04224700 press[.]rncos.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any RNCOS E-Services (P) Ltd securities in any jurisdiction including any other companies listed or named in this release.

Mining/Metal/Mineral via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From RNCOS E-Services (P) Ltd / Company Profile


Read Mining/Metal/Mineral Most Recent Related Newswires:

Boliden Selects Metso to Supply Equipment for A New Surface Crushing Station to Aitik Copper Mine in Sweden
Metso's Upgraded PlantTriage Software Simplifies Real-time Performance Management and Strengthens Cybersecurity
Metso Supplies Key Minerals Processing Equipment to Tibet Julong Copper for One of the Largest Greenfield Copper Projects in the World
Metso's Reliable Neles BWX Butterfly Valve Meets Requirements of Various Process Industries
Metso Introduces Integrated Approach for In-the-pit Operations
Metso Introduces Advanced Solutions for Fine Classification in Wet Minerals Processing
Rockwell Automation Outlines Steps for Achieving a Connected Mine
Metso Signs Landmark Deal with the World's Largest Copper Miner Codelco in Chile
Metso to Continue the Exclusive Lokotrack Distributor Agreement with Garriock Bros in the UK
Steel Dynamics, Inc. Wins Metals Company of the Year - Platts Global Metals Awards
Metso to Provide Crushing and Screening Plant and Life Cycle Services At Tata Steel's Sedibeng Iron Ore Mine
Metso Awarded its Largest Long-term Strategic Services Contract in North America with the World's Second Largest Producer of Soda Ash
Metso's Lokotrack® Machine Handovers During Bauma 2016 Highlight Customer Loyalty and Long Distributor Relationships
Metso Launches the N Series - A New Recycling Equipment Product Range to Offer Versatility and A Broader Choice to the Scrap Metal Industry
Metso Recognized Codelco El Teniente as the First Mining Company to Use Metso's Innovative Grinding Technology

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  NAKIVO, Inc.

Visit  BizJobs.com





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)