Quote:
quote:Originally posted by tricha
The company has long-term contracts with nickel pig iron producers and supplies them with imported laterite ore for processing into nickel pig iron, according to Wang.
However, Baosteel Stainless ceased nickel pig iron purchases in July due to a dramatic fall in nickel prices, causing nickel pig iron-produced stainless steel to become unprofitable.
Shows you how marginal the nickel pig iron industry is if it can't make money when nickel is $15/lb and still at historic highs. Is it sustainable???? Perhaps not at $15/lb nickel - may put a floor under the price....