Hi jojosydney, In regards to the last post,From my understanding...

Hi jojosydney, In regards to the last post,

From my understanding chromium is not an alternative, it is essential.
also,
"Mn has been introduced in austenitic stainless steels as a substitute for Ni during shortages in the international market or for economical reasons. The nickel content can be halved to 4 wt% by the addition of 2-6Mn wt%. However, although the austenitic structure is achieved, such steels do not exhibit the same corrosion resistance as an 18/8 steel."
(the ratio refers to the Cr/Ni % content)

Also the last paragraph states that the nickel price price needs to be $7000 per ton for steel makers to start making reasonable returns.
Seems odd to me.
How were they coping when Ni reached $17000?
Did they hedge with forward contracts (If that is possible)?
This also makes me wonder; at what price did FXR forward sell to Jinchuan?

Cheers.
P.S. Good to see Ni up 3 days in a row