Manny nickel mines have closed down in the last couple of months, world nickel production reduced by at least 400,000 tons with 2007 consuption around 1.3m million and production at 1.4 million. Nickel pig iron is break even at $18000 and nickel pig iron consumption is around 100000 tons per year. These factors will lead to a massive shortage of nickel by 2010. Im not sure my timing might be a little out but not by far.
Nickel is the most volitile by far and you will see very few mines come into production untill nickel goes above $10 per pound because the swings can be so fast. Due to the high cost of most nickel mines and pig iron those low cost producers have the world as their oyster, I am amazed at why alb is so low. I even feel more stupid not buying 150000 more shares at 8 cents.
I am hoping like hell this is not a takeover.
ALB Price at posting:
19.0¢ Sentiment: LT Buy Disclosure: Held
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