Nickel Shortage Limits Stainless Steel Growth

Bloomberg.com: Canada: “A shortage of nickel will limit production from stainless steel mills in the coming decade, said London-based industry consultant Andrew Mitchell.

Nickel demand will exceed production by 29,000 metric tons this year, said Mitchell, a consultant at the Addlestone, England- based company. The deficit will narrow to 2,000 tons next year as more stainless steel scrap becomes available before widening to 16,000 tons in 2006 as new mills start in China and Finland.

Stainless steel production may only increase by 3.5 percent a year until 2010 amid a lack of raw material. Some producers may produce Series 200 stainless steel, which contain less nickel than traditional austenitic grades of stainless. “

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