Stainless steels are still the primary sales for Wsa and the demands for industrial materials are at bottom cyclical curve.
Wsa sells ni concentrate with grade b/w 15-16% to Tsinghshan's roaster. The concentrate was mixed with low grade laterite ni material to produce nickel pig iron.
Wsa also sells the concentrate to Bhp's smelter to produce ni matte. The matte could be processed futher to Lme grade nickel.
Tsinghshan bought Lme grade nickel for the second time to remain solvent for its operation. Tsinghshan could change its strategy to produce nickel grade 303 rather than nickel pig iron.
Chinese NPI producers have been selling at a discount to compete with Indonesia's NPI producers due to a surge of supplies that had diversed to the Europe market after the nickel retaliation from China.
I don't want to hear a similar story to Syr's graphite market.
WSA Price at posting:
$3.06 Sentiment: None Disclosure: Not Held
