Asian markets offset by strong demand for nickel market Europe and the United States to reduce consumption

CRU data that the second quarter of 2007 World stainless steel output will reach 7.755 million tons, first half output will reach 15.515 million tons, of which the European output 4.554 million tons, North American output 1.2356 million tons, the production for the Asian 8.942 million tons, World output of 15.515 million tons, 7.8%.2007 over the same period last year, an increase of the first half of the world than the austenitic stainless steel remained at 75.8% than the same period in 2006 decreased by 1.6 percentage points.
Europe and the United States, the stainless steel market increasingly pessimistic atmosphere thick and reduced orders, large imports from China muscled into the stainless steel market, basic prices decline had prompted the European stainless steel production enterprises in the first quarter of the output of the second quarter may also need more production, the United States was not spared, in order to reduce inventory service centers, from the end of 2006, production began, 2007 a quarter of this two stainless crude steel production has been reduced by 0.2%. Second quarter may also fall 8.6%, although the two regions in the world economy is more important. But their output is no need to be overly exaggerated, in 2006 Asia accounted for the world stainless steel production 53% in 2007 the ratio will increase, for a quarter of China's output has increased 30% to 58%.
Europe and the United States stainless steel production happens with a number of companies to reduce Nickel Stainless share encountered together by the end of April, Posco announced that it has developed a ferritic stainless steel. Its performance is similar with the 300, but cheaper by half, Baosteel announced ferritic stainless steel from more than 26% in 2006 to 40% 2007 a quarter of Japan's 300 stainless steel from the ratio in 2006 dropped to 62% in 2007 58.8%, which in Europe and the United States have arisen. The world is expected in 2007 the ratio of austenitic stainless steel from 2006, dropped to 67.2% in 2007 65.0%. Global stainless steel output continued to increase, 300 stainless steel output is growing, Therefore nickel prices rose still exists the possibility that only a small range.
2007 a quarter of the global primary nickel consumption 7.2%,4 increase over the same month a similar situation, 5,6 in the volume of shipments has been a marked slowdown in the stainless steel factory Europe and the United States to delay the shipment, But Asia, particularly China, are still very strong consumption, a quarter of China's nickel apparent consumption increased by 52% to 86,000 tons, the second quarter are expected to increase 30% Japan's nickel consumption has increased slightly, stainless steel and stainless steel areas have contributed to the field.
Integrated view, the Asian nickel consumption offset by the increase in consumption in Europe and the United States drop Globally nickel consumption is still increasing, the year of nickel consumption growth will slow down, from the Asian market, strong demand for nickel prices will prevent the second half of 2005, there have been a significant decline.