correction re: chinese demand New production from their biggest deposit and miner has grown by 120,000t to 200,000t from 80,000t in 2006.
A conservative estimate of consumption/demand increases for 2006 is 330,000t. Using 10% increases to current consumption as opposed to actual 20% consumptions yoy.
For 2007 it is 360,000t.
So the increase in new production required for 06/07 to meet consumption is 690,000t and their biggest miner has only managed to increase production by 120,000t..
CORRECTION: New production required will be 570,000t for 2007 (not 450,000t as prior stated).
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