Financial crisis's storm has gone far away from our sight, but it is arguing when the large-scaled economy stimulus policy to quit from the market. As a result, the international trade friction has been promoted and the anticipated inflation turned intense. Emerging Euro Zone debt crisis and market worry over double-dip recession of world economy had resulted in frequent fluctuation of nonferrous metals prices in the first half this year.
Although nickel and cobalt prices had kept rising moderately over the previous year and Chinese nickel and cobalt hit new recorded high again, the downstream consumptions are not performing well. Chinese greenfield and brownfield nickel projects emerged quickly, and Chinese stainless steel production had been outstanding in the world last year and will continue in 2010 due to the uncompetitive cost advantage from NPI. After the listing of cobalt future in LME in February 2010, cobalt price had not risen like the original expectation, and a large amount of cobalt ores had been exported to Chinese market despite the forbidding export policy of Congo government. No matter nickel or cobalt, prices in Chinese domestic market was lower than LME due to the over imports in 2009. Therefore, exports are again the market focus in 2010.
2010 Chinese International Nickel & Cobalt Industry Forum will invite experts from home and abroad to discuss global economy trend, Chinese macro economy policy, the nickel and cobalt market trends in 2010-2011, downstream consumption and development of new projects etc.