World Nickel Market

World Nickel Market

This report analyzes the worldwide markets for Nickel in Tons. The specific end-use segments discussed are Stainless Steel, Other Alloy Steel, Cast Iron, Alloys and Castings, Electroplating, and Other Uses. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Annual forecasts are provided for each region for the period of 2001 through 2015. A ten-year historic analysis is also provided for these markets with annual market analytics. The report profiles 111 companies including many key and niche players worldwide such as Allegiance Mining N.L, Anglo American Plc, BHP Billiton Limited, Eramet SA, Jilin Jien Nickel Industry Co., Ltd, Minara Resources Limited, Mincor Resources NL, OJSC MMC Norilsk Nickel, Outokumpu OYJ, PT International Nickel Indonesia Tbk, S·Science Company, Ltd, Societe Le Nickel, Special Metals Corporation, Sumitomo Metal Mining Co. Ltd., Tectonic Resources NL, Vale Inco Limited, Xstrata plc, and Xstrata Nickel Australia Pty Limited. Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

NICKEL MCP-2646
A GLOBAL STRATEGIC BUSINESS REPORT


CONTENTS


I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation & Reporting Level I-2
Quantitative Techniques & Analytics I-3
Product Definitions and Scope of Study I-3
Stainless Steel I-3
Other Alloy Steel I-4
Cast Iron I-4
Alloys and Castings I-4
Electroplating I-4
Other Uses I-4


II. EXECUTIVE SUMMARY

1. Market Overview II-1
Current and Future Analysis II-1
Regional Perspective II-1
End-Use Segment Perspective II-1
Pricing Scenario II-1
Table 1: Global Nickel Market: Average Prices of Nickel over
the Years 2005 through 2010 (In US$/ ton) (includes
corresponding Graph/Chart) II-1
Reviving Stainless Steel Capacity Boosts Nickel Demand II-2
Industry Consolidations on a Rise II-2
Production and Capex Costs Headed North II-2
Nickel Battery Market- A Snapshot II-2
Table 2: Global Nickel Battery Market (2006): Market Share
Breakdown for Leading Players -Sanyo Electric Company Ltd.,
Saft Batteries, Panasonic EV Energy Co. Ltd, GP Batteries,
BYD Battery Company, Matsushita Battery Industrial Co. Ltd./
Panasonic and Others (includes corresponding Graph/Chart) II-3

Table 3: Global Nickel- Cadmium (NiCd) Battery Market (2005 &
2007): Percentage Breakdown of Value Sales by End-Use
Segments - Consumer Applications, Industrial Applications,
Medical, Military, Telecom and Others (includes corresponding
Graph/Chart) II-4

Table 4: Global Nickel Metal Hydride (NiMH) Battery Market
(2005 & 2007): Percentage Breakdown of Value Sales by End-Use
Segments - Consumer Applications, Industrial Applications,
Medical, Military, Telecom and Others (includes corresponding
Graph/Chart) II-4
Challenges to the Industry II-5
The Future of Nickel II-5

2. Nickel at a Glance II-6
Table 5: Physical and Chemical Properties of Nickel II-7
Isotopes of Nickel II-7
Class 1 and Class 2 Nickel Products II-8
Table 6: Classification of Nickel Products by Class and
Content of Nickel and Iron II-8
Primary and Secondary Nickel II-8
Application Areas II-9
Nickel Alloys Find New Applications in Flat Screen TVs II-11
A Critical Wartime Commodity II-11
A Vital Growth Enhancer for Human Beings, Plants and Animals II-11
Ni-MH Cell - A Boon for the High-end Portable Electronic Devices II-11
Nickel Vapor Deposition (NVD) Technology II-12

3. Global Nickel Production II-13
Nickel Reserves and Reserve Base II-13
Table 7: Global Nickel Reserves and Reserve Base (2007):
Breakdown by Country/Region (in '000 Metric Tons) (includes
corresponding Graph/Chart) II-13

Table 8: Global Nickel Resources (2005): Percentage Breakdown
of Resources by Source Type- Laterite and Sulfide II-13

Table 9: Global Mine Production of Nickel: Production
Capacity for Select Mines Scheduled to Commence Production in
2008 (In Tons) (includes corresponding Graph/Chart) II-14
Nickel Production Scenario II-14
Table 10: Global Nickel Production (2005): Percentage
Breakdown of Production by Source Type- Sulfide and Laterite II-14

Table 11: Global Mine Production of Nickel (2006 & 2007):
Breakdown of Volume Production by Country/Region (in '000
Metric Tons) (includes corresponding Graph/Chart) II-15

Table 12: Global Refined Nickel Production: Breakdown of
Volume Production by Region for the Years 2006, 2007 & 2008
(In '000 Tons) (includes corresponding Graph/Chart) II-15

Table 13: Global Mine Nickel Market (2007): Percentage
Breakdown of Production by Leading Players (includes
corresponding Graph/Chart) II-16

Table 14: Global Refined Nickel Market (2007): Percentage
Breakdown of Production by Leading Players (includes
corresponding Graph/Chart) II-16

4. End-Use Analyses II-17
A. Stainless Steel II-17
B. Other Alloy Steel II-17
C. Cast Irons II-17
D. Alloys and Castings II-18
E. Electroplating II-18
F. Other Uses II-19

5. Recent Industry Activity II-20
Mincor Resources Discovers New Nickel Mine II-20
UC Rusal Completes Acquisition of 25% + 1 stake of Norilsk Nickel II-20
Victory Nickel Completes Acquisition of 8.4% Stake in
Wallbridge Mining II-20
Dundarave Initiates Design Optimization for ExtrEL Nickel
Recovery Technology II-20
Jinchuan Plans to Open a Canadian Subsidiary Company II-20
Brierty Acquires Two Contracts from Copernicus Nickel Mines II-21
Wallbridge Approves Budget for Work on Xstrata Nickel Properties II-21
Fission Energy Signs Agreement to Acquire Meteore Metals II-21
Regency Mines Enters into Nickel Drilling Contract with JCP II-21
ArcelorMittal to Invest in Indonesia’s Mining and Steel Sectors II-21
Ufaleinikel Enters into a Supply Agreement with Alpicom II-21
Baosteel Resources Signs Agreement for a Joint Venture with
Sinosteel Binhai II-22
BHP Billiton Commences the Ravensthorpe Nickel Project II-22
Norilsk Nickel Signs Co-operation Agreement with Foreign
Affairs Ministry II-22
Belvedere Signs Off-take Agreement with The Jinchuan Group II-22
White Cliff Nickel Signs MOU with Korean Consortium II-22
Southern Urals Offers Contract to Bateman for a New Melting
Complex II-22
Sumitomo Metal Mining to Invest US$ 1.9 Billion in Nickel Mine II-23
Oriel Resources to Invest US$680 Million in Kazakhstan II-23
PT Sinosteel to Build Nickel Ore Mine II-23
European Nickel Acquires Stakes in Toledo Mining and BNC II-23
Jinchuan Acquires Stake in Fox Resources II-24
Fox Resources and Jinchuan Sign New Off-take Agreement for
Sholl B2’s Nickel II-24
Jervois Signs Framework Agreement for Joint Development of
Nickel Laterites II-24
Albidon Enters into a Joint Venture with Iamgold II-24
BHP to Purchase Nickel from Metallica II-24
Jindal and Antam Enter into Joint Venture Agreement II-24
INV Signs an Option-Joint Venture Agreement with Votorantim II-25
European Nickel Acquires Minor Interest in Atlas’ Berong
Nickel Project II-25
High River Completes Acquisition of Chaya Nickel Deposit II-25
Mechel to Acquire Oriel Resources II-26
Sumitomo Metal Collaborates with Mitsui to Invest in Nickel Mine II-26
Pure Nickel Enters into a JV with Crowflight II-26
Norilsk Enters into Separate Agreements with Rio Tinto and BHP II-26
Xstrata forms a Joint Venture with Barrick Gold to Develop
Kabanga II-26
Castillian Acquires Maximus for Rights in Las Aguilas II-27
CVRD Plans to Build Two Nickel Plants II-27
SMM to Increase Capacity II-27
MMC to Acquire 7.2% Interest in Canadian Royalties II-27
Lundin Mining Takes Over Rio Narcea II-28
Fargo is Now Pacific Coast Nickel II-28
Passport Capital Takes Over 5% Minority Stake in MBMI II-28
Toledo Signs Long-Term Laterite Ore Supply Agreement with
Queensland Nickel II-28
Rusina Mining Enters into an Agreement with DMCI Holdings II-28
Berong to Establish a Nickel Processing Plant II-28
Gansu Begins Construction of Nickel Mine in Zambia II-29
FinMetal and Magnus Minerals Joint Venture II-29
Minara Resources to Form a Joint Venture with Gryphon Minerals II-29
Fox Resources and Jinchuan Sign an Off-take Agreement II-29
Western Areas to Construct a Nickel Concentrate Plant II-30
Western Areas Enters Exploration Agreement with Reed Resources II-30
CVRD Inco’s New Corporate Identity, Vale Inco II-30
Norilsk Nickel Takes over Remaining Stake in LionOre Mining II-31
Sumitomo Metal Mining Acquires Further Stake in Sumitomo Metal
Industries II-31
Precision Castparts Acquires Caledonian Alloys II-31
Blackstone Ventures Acquires Sulfidmalm II-31
Norilsk Nickel Acquires Nickel Business of OM Group II-32
Norilsk Nickel Takes Over LionOre Mining International II-32
Belvedere Acquires Hitura II-32
Precision Castparts Acquires McWilliams Forge II-32
Votorantim Expands Nickel Production II-32
Eramet’s Joint Venture with PT Aneka Tambang II-33
Inco Plans New Nickel Plant in China II-33
GRD Bags Contract for CVRD’s Nickel Project II-33
Southwest United Acquires CEEL II-33
NT Holding Signs LOI to Acquire Stake in EPMDC II-33
RCF Signs Agreement to Acquire Stake in Metallica II-34
Sempra Reaches Agreement to Acquire Stake in Tectonic Resources II-34
Anglo American Approves the Barro Alto Nickel Project II-34
Xstrata Announces Acquisition of Falconbridge Limited II-34
Phelps Dodge Announces Plans to Acquire Two Leading Mining
Companies II-34
BHP Billiton Enters into Agreement with MMC Norilsk Nickel II-34
Sumitomo Metal Mining to Double HPAL Production II-35
Precision Castparts Corp. Acquires Special Metals Corporation II-35
Aurora Platinum Acquires 50% of the Laforce Copper-Nickel
Property II-35
Inco Commences Production at its Voisey’s Bay Mine II-35
LionOre Expands Operations at its Black Swan Nickel Deposit
Near Kalgoorlie II-35
European Nickel Generates Revenues in its Caldag Nickel
Exploration in Western Turkey II-35
Asian Mineral Resources Receives Approval for Mineral
Exploration at its Ban Phuc Nickel Project in Vietnam II-35

6. Focus on Select Players II-36
Allegiance Mining N.L (Australia) II-36
Anglo American Plc (United Kingdom) II-36
BHP Billiton Limited (Australia) II-36
Eramet SA (France) II-37
Jilin Jien Nickel Industry Co., Ltd (China) II-37
Minara Resources Limited (Australia) II-38
Mincor Resources NL (Australia) II-38
OJSC MMC Norilsk Nickel (Russia) II-38
Outokumpu OYJ (Finland) II-39
PT International Nickel Indonesia Tbk (Indonesia) II-39
S·Science Company, Ltd (Japan) II-39
Societe Le Nickel (France) II-40
Special Metals Corporation (USA) II-40
Sumitomo Metal Mining Co. Ltd. (Japan) II-40
Tectonic Resources NL (Australia) II-41
Vale Inco Limited (Canada) II-41
Xstrata plc (Switzerland) II-42
Xstrata Nickel Australia Pty Limited (Australia) II-42

7. Global Market Perspective II-43
Table 15: World Recent Past, Current & Future Analysis for
Nickel by Geographic Region/Country - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Latin America and
Rest of World Independently Analyzed with Annual Sales
Figures in Metric Tons for Years 2001 through 2010 (includes
corresponding Graph/Chart) II-43

Table 16: World Long-term Projections for Nickel by Geographic
Region/Country - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for the Years 2011 through 2015 (includes corresponding
Graph/Chart) II-44

Table 17: World Historic Review for Nickel by Geographic
Region/Country - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 1991 through 2000 (includes corresponding
Graph/Chart) II-45

Table 18: World 15-Year Perspective for Nickel by Geographic
Region/Country - Percentage Breakdown of Volume Sales for US,
Canada, Japan, Europe, Asia-Pacific (excluding Japan),Latin
America and Rest of World Markets for Years 1998, 2008 & 2012
(includes corresponding Graph/Chart) II-46

Table 19: World Recent Past, Current & Future Analysis for
Nickel in Stainless Steel by Geographic Region/Country - US,
Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin
America and Rest of World Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) II-47

Table 20: World Long-term Projections for Nickel in Stainless
Steel by Geographic Region/Country - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Latin America and Rest
of World Markets Independently Analyzed by Annual Sales
Figures in Metric Tons for the Years 2011 through 2015
(includes corresponding Graph/Chart) II-48

Table 21: World Historic Review for Nickel in Stainless Steel
by Geographic Region/Country - US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Latin America and Rest of
World Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) II-49

Table 22: World 15-Year Perspective for Nickel in Stainless
Steel by Geographic Region/Country - Percentage Breakdown of
Volume Sales for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets for
Years1998, 2008 & 2012 (includes corresponding Graph/Chart) II-50

Table 23: World Recent Past, Current & Future Analysis for
Nickel in Other Alloy Steels by Geographic Region/Country -
US, Canada, Japan, Europe, Asia-Pacific, (excluding Japan),
Latin America and Rest of World Independently Analyzed with
Annual Sales Figures in Metric Tons for Years 2001 through
2010 (includes corresponding Graph/Chart) II-51

Table 24: World Long-term Projections for Nickel in Other
Alloy Steels by Geographic Region/Country - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Latin America and Rest
of World Markets Independently Analyzed by Annual Sales
Figures in Metric Tons for the Years 2011 through 2015
(includes corresponding Graph/Chart) II-52

Table 25: World Historic Review for Nickel in Other Alloy
Steels by Geographic Region/Country - US, Canada, Japan,
Europe, Asia-Pacific, (excluding Japan), Latin America and
Rest of World Independently Analyzed with Annual Sales Figures
in Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) II-53

Table 26: World 15-Year Perspective for Nickel in Other Alloy
Steel by Geographic Region/Country - Percentage Breakdown of
Volume Sales for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets for
Years1998, 2008 & 2012 (includes corresponding Graph/Chart) II-54

Table 27: World Recent Past, Current & Future Analysis for
Nickel in Cast Iron by Geographic Region/Country - US, Canada,
Japan, Europe, Asia-Pacific, (excluding Japan), Latin America
and Rest of World Independently Analyzed with Annual Sales
Figures in Metric Tons for Years 2001 through 2010 (includes
corresponding Graph/Chart) II-55

Table 28: World Long-term Projections for Nickel in Cast Iron
by Geographic Region/Country - US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Latin America and Rest of
World Markets Independently Analyzed by Annual Sales Figures
in Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) II-56

Table 29: World Historic Review for Nickel in Cast Iron by
Geographic Region/Country - US, Canada, Japan, Europe,
Asia-Pacific, (excluding Japan), Latin America and Rest of
World Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) II-57

Table 30: World 15-Year Perspective for Nickel in Cast Iron by
Geographic Region/Country - Percentage Breakdown of Volume
Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding
Japan), Latin America and Rest of World Markets for Years1998,
2008 & 2012 (includes corresponding Graph/Chart) II-58

Table 31: World Recent Past, Current & Future Analysis for
Nickel in Alloys and Castings by Geographic Region/Country -
US, Canada, Japan, Europe, Asia-Pacific, (excluding Japan),
Latin America and Rest of World Independently Analyzed with
Annual Sales Figures in Metric Tons for Years 2001 through
2010 (includes corresponding Graph/Chart) II-59

Table 32: World Long-term Projections for Nickel in Alloys
and Castings by Geographic Region/Country - US, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), Latin America
and Rest of World Markets Independently Analyzed by Annual
Sales Figures in Metric Tons for the Years 2011 through 2015
(includes corresponding Graph/Chart) II-60

Table 33: World Historic Review for Nickel in Alloys and
Castings by Geographic Region/Country - US, Canada, Japan,
Europe, Asia-Pacific, (excluding Japan), Latin America and
Rest of World Independently Analyzed with Annual Sales Figures
in Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) II-61

Table 34: World 15-Year Perspective for Nickel in Alloys and
Castings Industry by Geographic Region/Country - Percentage
Breakdown of Volume Sales for US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Latin America and Rest of
World Markets for Years1998, 2008 & 2012 (includes
corresponding Graph/Chart) II-62

Table 35: World Recent Past, Current & Future Analysis for
Nickel in Electroplating by Geographic Region/Country - US,
Canada, Japan, Europe, Asia-Pacific, (excluding Japan), Latin
America and Rest of World Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) II-63

Table 36: World Long-term Projections for Nickel in
Electroplating by Geographic Region/Country - US, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), Latin America
and Rest of World Markets Independently Analyzed by Annual
Sales Figures in Metric Tons for the Years 2011 through 2015
(includes corresponding Graph/Chart) II-64

Table 37: World Historic Review for Nickel in Electroplating
Industry by Geographic Region/Country - US, Canada, Japan,
Europe, Asia-Pacific, (excluding Japan), Latin America and
Rest of World Independently Analyzed with Annual Sales Figures
in Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) II-65

Table 38: World 15-Year Perspective for Nickel in
Electroplating by Geographic Region/Country - Percentage
Breakdown of Volume Sales for US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Latin America and Rest of
World Markets for Years1998, 2008 & 2012 (includes
corresponding Graph/Chart) II-66

Table 39: World Recent Past, Current & Future Analysis for
Nickel in Other End Uses by Geographic Region/Country - US,
Canada, Japan, Europe, Asia-Pacific, (excluding Japan), Latin
America and Rest of World Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) II-67

Table 40: World Long-term Projections for Nickel in Other Uses
by Geographic Region/Country - US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Latin America and Rest of
World Markets Independently Analyzed by Annual Sales Figures
in Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) II-68

Table 41: World Historic Review for Nickel in Other End Uses
by Geographic Region/Country - US, Canada, Japan, Europe,
Asia-Pacific, (excluding Japan), Latin America and Rest of
World Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) II-69

Table 42: World 15-Year Perspective for Nickel in Other End
Uses by Geographic Region/Country - Percentage Breakdown of
Volume Sales for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Latin America and Rest of World Markets for
Years1998, 2008 & 2012 (includes corresponding Graph/Chart) II-70


III. MARKET

1. The United States III-1
A.Market Analysis III-1
Current and Future Analysis III-1
US Nickel Consumption By Industry III-1
Table 43: Nickel Consumption in the US (2006): Percentage
Breakdown by End-Use Markets for Engineering, Transport,
Metal Goods, Electrical Equipment, Construction & Building,
Tubular and Others (includes corresponding Graph/Chart) III-1
Trade Statistics III-2
Table 44: US Nickel Exports (2007): Value Exports for
Select Product Categories (In '000 US$) (includes
corresponding Graph/Chart) III-2

Table 45: US Nickel Imports (2007): Value Imports for
Select Product Categories (In '000 US$) (includes
corresponding Graph/Chart) III-3
Special Metals Corporation- A Major Player III-3
Strategic Corporate Developments III-4
B.Market Analytics III-5
Table 46: US Recent Past, Current & Future Analysis for
Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-5

Table 47: US Long-term Projections for Nickel by End Use
Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) III-5

Table 48: US Historic Review for Nickel by End Use Segment -
Stainless Steel, Other Alloy Steel, Cast Irons, Alloys and
Castings, Electroplating and Other End-Use Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 1991 through 2000 (includes corresponding
Graph/Chart) III-6

Table 49: US 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets for 1998, 2008 &
2012 (includes corresponding Graph/Chart) III-6

2. Canada III-7
A.Market Analysis III-7
Current and Future Analysis III-7
Trade Statistics III-7
Table 50: Canadian Nickel Exports (2007): Value Exports for
Select Product Categories (In '000 US$) III-7
Table 51: Canadian Nickel Imports (2007): Value Imports for
Select Product Categories (In '000 US$) (includes
corresponding Graph/Chart) III-8
Focus on Select Players III-8
Strategic Corporate Developments III-9
B.Market Analytics III-12
Table 52: Canadian Recent Past, Current & Future Analysis
for Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-12

Table 53: Canadian Long-term Projections for Nickel by End
Use Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) III-12

Table 54: Canadian Historic Review for Nickel by End Use
Segment - Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-13

Table 55: Canadian 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and OtherEnd- Use Markets for1998, 2008 &
2012 (includes corresponding Graph/Chart) III-13

3. Japan III-14
A.Market Analysis III-14
Current and Future Analysis III-14
Production Scenario III-14
Table 56: Japanese Nickel Market (2006): Annual Nickel
Production Capacity for Select Players (In Metric Tons)
(includes corresponding Graph/Chart) III-14
Focus on Select Players III-14
B.Market Analytics III-16
Table 57: Japanese Recent Past, Current & Future Analysis
for Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through2010
(includes corresponding Graph/Chart) III-16

Table 58: Japanese Long-term Projections for Nickel by End
Use Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) III-16

Table 59: Japanese Historic Review for Nickel by End Use
Segment - Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-17

Table 60: Japanese 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets for1998, 2008 &
2012 (includes corresponding Graph/Chart) III-17

4. Europe III-18
A.Market Analysis III-18
Current and Future Analysis III-18
Regional Perspective III-18
End-Use Segment Perspective III-18
Production Statistics III-18
Table 61: Mine Production of Nickel in European Union (2005
& 2006): Breakdown of Volume Production for Select
Countries- Greece, Spain, Finland, Turkey and Norway
(in Tons) (includes corresponding Graph/Chart) III-18

Table 62: Smelter & Refinery Production of Nickel in
European Union (2005 & 2006): Breakdown of Volume
Production for Select Countries- Norway, Finland, United
Kingdom, Greece, France and Austria (In Tons) (includes
corresponding Graph/Chart) III-19
Market Dynamics III-19
Recycling III-19
Exports and Imports III-19
B.Market Analytics III-20
Table 63: European Recent Past, Current & Future Analysis
for Nickel by Geographic Region/Country - France, Germany,
UK, Italy, Spain, Russia & Rest of Europe Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2001 through 2010 (includes corresponding
Graph/Chart) III-20

Table 64: European Long-term Projections for Nickel by
Geographic Region/Country - France, Germany, UK, Italy,
Spain, Russia and Rest of European Markets Independently
Analyzed with Annual Sales Figures in Metric Tons for Years
2011 through 2015 (includes corresponding Graph/Chart) III-21

Table 65: European Recent Past, Current & Future Analysis
for Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-22

Table 66: European Long Term Projection for Nickel by End
Use Segment - Stainless Steel, Other Alloy Steel, Cast
Irons, Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) III-22

Table 67: European Historic Review for Nickel by Geographic
Region/Country - France, Germany, UK, Italy, Spain, Russia &
Rest of Europe Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 1991 through 2000
(includes corresponding Graph/Chart) III-23

Table 68: European Historic Review for Nickel by End Use
Segment - Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-23

Table 69: European 15-Year Perspective for Nickel by
Geographic Region/Country - Percentage Breakdown of Volume
Sales for France, Germany, UK, Italy, Spain, Russia and Rest
of Europe Markets for1998, 2008 & 2012 (includes
corresponding Graph/Chart) III-24

Table 70: European 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End- Use Markets for1998, 2008 &
2012 (includes corresponding Graph/Chart) III-25

4a. France III-26
A.Market Analysis III-26
Current and Future Analysis III-26
Select Players III-26
B.Market Analytics III-27
Table 71: French Recent Past, Current & Future Analysis for
Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-27

Table 72: French Long-term Projections for Nickel by End Use
Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating & Other End-Use Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for the Years 2011 through 2015 (includes corresponding
Graph/Chart) III-27

Table 73: French Historic Review for Nickel by End Use
Segment - Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-28

Table 74: French 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets for1998, 2008 &
2012 (includes corresponding Graph/Chart) III-28

4b. Germany III-29
Market Analysis III-29
Table 75: German Recent Past, Current & Future Analysis for
Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-29

Table 76: German Long-term Projections for Nickel by End Use
Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating & Other End-Use Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for the Years 2011 through 2015 (includes corresponding
Graph/Chart) III-30

Table 77: German Historic Review for Nickel by End Use
Segment - Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-30

Table 78: German 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets for1998, 2008 &
2012 (includes corresponding Graph/Chart) III-31

4c. The United Kingdom III-32
A.Market Analysis III-32
Current and Future Analysis III-32
Anglo American Plc - A Major Player III-32
Strategic Corporate Developments III-32
B.Market Analytics III-33
Table 79: UK Recent Past, Current & Future Analysis for
Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-33

Table 80: UK Long-term Projections for Nickel by End Use
Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating & Other End-Use Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for the Years 2011 through 2015 (includes corresponding
Graph/Chart) III-33

Table 81: UK Historic Review for Nickel by End Use Segment -
Stainless Steel, Other Alloy Steel, Cast Irons, Alloys and
Castings, Electroplating and Other End-Use Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 1991 through 2000 (includes corresponding
Graph/Chart) III-34

Table 82: UK 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets for 1998, 2008 &
2012 (includes corresponding Graph/Chart) III-34

4d. Italy III-35
Market Analysis III-35
Table 83: Italian Recent Past, Current & Future Analysis for
Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-35

Table 84: Italian Long-term Projections for Nickel by End
Use Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating & Other End-Use Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for the Years 2011 through 2015 (includes corresponding
Graph/Chart) III-36

Table 85: Italian Historic Review for Nickel by End Use
Segment - Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-36

Table 86: Italian 15-Year Perspective for Nickel by End- Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets for1998, 2008 &
2012 (includes corresponding Graph/Chart) III-37

4e. Spain III-38
A.Market Analysis III-38
Current and Future Analysis III-38
Strategic Corporate Development III-38
B.Market Analytics III-39
Table 87: Spanish Recent Past, Current & Future Analysis for
Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-39

Table 88: Spanish Long-term Projections for Nickel by End
Use Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) III-39

Table 89: Spanish Historic Review for Nickel by End Use
Segment - Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-40

Table 90: Spanish 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets for 1998, 2008 &
2012 (includes corresponding Graph/Chart) III-40

4f. Russia III-41
A.Market Analysis III-41
Current and Future Analysis III-41
OJSC MMC Norilsk Nickel - A Major Player III-41
Strategic Corporate Developments III-41
B.Market Analytics III-43
Table 91: Russian Recent Past, Current & Future Analysis for
Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-43

Table 92: Russian Long-term Projections for Nickel by End
Use Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) III-44

Table 93: Russian Historic Review for Nickel by End Use
Segment - Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-44

Table 94: Russian 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets for 1998, 2008 &
2012 (includes corresponding Graph/Chart) III-45

4g. Rest of Europe III-46
A.Market Analysis III-46
Current and Future Analysis III-46
Sweden III-46
Outokumpu OYJ (Finland) - A Major Player III-46
Strategic Corporate Developments III-47
B.Market Analytics III-48
Table 95: Rest of Europe Recent Past, Current & Future
Analysis for Nickel by End Use Segment - Stainless Steel,
Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating & Other End-Use Markets Independently
Analyzed with Annual Sales Figures in Metric Tons for Years
2001 through 2010 (includes corresponding Graph/Chart) III-48

Table 96: Rest of Europe Long-term Projections for Nickel by
End Use Segment- Stainless Steel, Other Alloy Steel, Cast
Irons, Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) III-49

Table 97: Rest of Europe Market Historic Review for Nickel
by End-Use Segment - Stainless Steel, Other Alloy Steel,
Cast Irons, Alloys and Castings, Electroplating and Other
End-Use Markets Independently Analyzed with Annual Sales
Figures in Metric Tons for Years 1991 through 2000
(includes corresponding Graph/Chart) III-49

Table 98: Rest of Europe 15-Year Perspective for Nickel by
End-Use Segment - Percentage Breakdown of Volume Sales for
Stainless Steel, Other Alloy Steel, Cast Irons, Alloys and
Castings, Electroplating and Other End-Use Markets for1998,
2008 & 2012 (includes corresponding Graph/Chart) III-50

5. Asia-Pacific III-51
A.Market Analysis III-51
Current and Future Analysis III-51
Regional Perspective III-51
End-Use Segment Perspective III-51
Australia III-51
Production Scenario III-51
Table 99: Annual Production Capacity of Major Nickel Mines
in Australia (In Metric Tons) III-51
Trade Statistics III-52
Table 100: Australian Nickel Exports (2005 - 06 & 2006 -
07): Breakdown of Value Exports by Product Categories-Ores
and concentrates, Intermediate products, Refined Nickel
Class 1 & Refined Nickel Class 2 (In A$ Million) (includes
corresponding Graph/Chart) III-52

Table 101: Australian Imports of Primary Nickel Products
(2005 - 06 & 2006 - 07): Value Imports in A$ Million III-52
Focus on Select Players III-52
Strategic Corporate Developments III-55
B.Market Analytics III-63
Table 102: Asia-Pacific Recent Past, Current & Future
Analysis for Nickel by Geographic Region/Country - China,
Taiwan and Rest of Asia-Pacific Markets Independently
Analyzed with Annual Sales Figures in Metric Tons for Years
2001 through 2010 (includes corresponding Graph/Chart) III-63

Table 103: Asia- Pacific Long-term Projections for Nickel by
Geographic Region/Country - China, Taiwan and Rest of
Asia-Pacific Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for the Years 2011 through 2015
(includes corresponding Graph/Chart) III-63

Table 104: Asia-Pacific Historic Review for Nickel by
Geographic Region/Country - China, Taiwan and Rest of
Asia-Pacific Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 1991 through 2000
(includes corresponding Graph/Chart) III-64

Table 105: Asia-Pacific 15-Year Perspective for Nickel by
Geographic Region/Country - Percentage Breakdown of Volume
Sales for China, Taiwan and Rest of Asia-Pacific Markets for
1998, 2008 & 2012 (includes corresponding Graph/Chart) III-64

Table 106: Asia-Pacific Recent Past, Current & Future
Analysis for Nickel by End Use Segment - Stainless Steel,
Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets Independently
Analyzed with Annual Sales Figures in Metric Tons for Years
2001 through 2010 (includes corresponding Graph/Chart) III-65

Table 107: Asia-Pacific Long-term Projections for Nickel by
End Use Segment- Stainless Steel, Other Alloy Steel, Cast
Irons, Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) III-65

Table 108: Asia-Pacific Historic Review for Nickel by
End-Use Segment - Stainless Steel, Other Alloy Steel, Cast
Irons, Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-66

Table 109: Asia-Pacific 15-Year Perspective for Nickel by
End-Use Segment - Percentage Breakdown of Volume Sales for
Stainless Steel, Other Alloy Steel, Cast Irons, Alloys and
Castings, Electroplating and Other End-Use Markets for 1998,
2008 & 2012 (includes corresponding Graph/Chart) III-66

5a. China III-67
A.Market Analysis III-67
Current and Future Analysis III-67
Overview of Nickel Industry III-67
Table 110: Chinese Stainless Steel Industry (2006-2008):
Production in ‘000 Metric Tons (includes corresponding
Graph/Chart) III-67

Table 111: Stainless Steel Market in China (2006 & 2010):
Production Capacity by Leading Players for Taiyuan
Stainless Steel, Baosteel, POSCO Zhangjiagang, Taiwan
Yelian Steel, Jiuquan Steel and Tangshan Stainless Steel in
Metric Tons per Annum (includes corresponding Graph/Chart) III-67

Table 112: Finished Nickel Market in China (2004-2008) :
Production in '000 Tons (includes corresponding
Graph/Chart) III-68

Table 113: Chinese Refined Nickel Market (2006): Annual
Production Capacity for Select Players (In '000 Metric
Tons) (includes corresponding Graph/Chart) III-68
Imports & Exports Scenario III-69
Table 114: Chinese Nickel Imports (2006): Breakdown of
Volume Imports by Product Categories- Ores & Concentrates
and Metal (In '000 Metric Tons) III-69

Table 115: Chinese Nickel Imports (2006): Breakdown of
Value Imports by Product Categories- Ores & Concentrates
and Metal (In US$ Million) III-69

Table 116: Chinese Exports of Nickel and Nickel Articles:
Value Exports for the Years 2005 & 2006 (In US$ Million) III-69
Select Players III-69
B.Market Analytics III-70
Table 117: Chinese Recent Past, Current & Future Analysis
for Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-70

Table 118: Chinese Long-term Projections for Nickel by End
Use Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for the Years 2011 through 2015 (includes
corresponding Graph/Chart) III-71

Table 119: Chinese Historic Review for Nickel by End Use
Segment - Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 1991 through 2000 (includes
corresponding Graph/Chart) III-71

Table 120: Chinese 15-Year Perspective for Nickel by End-Use
Segment - Percentage Breakdown of Volume Sales for Stainless
Steel, Other Alloy Steel, Cast Irons, Alloys and Castings,
Electroplating and Other End-Use Markets for1998, 2008 &
2012 (includes corresponding Graph/Chart) III-72

5b. Taiwan III-73
Market Analysis III-73
Table 121: Taiwanese Recent Past, Current & Future Analysis
for Nickel by End Use Segment - Stainless Steel, Other Alloy
Steel, Cast Irons, Alloys and Castings, Electroplating and
Other End-Use Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2001 through 2010
(includes corresponding Graph/Chart) III-73

Table 122: Taiwanese Long-term Projections for Nickel by End
Use Segment- Stainless Steel, Other Alloy Steel, Cast Irons,
Alloys and Castings, Electroplating and Other End-Use
Markets