This document provides an overview of the global nickel industry. It discusses that global nickel production grew until 2007 but declined in 2008-2009 due to the economic crisis, recovering to 1.45 million metric tons in 2010. Production is estimated to reach 1.86 million metric tons by 2013, growing at a CAGR of around 9% from 2010-2013. Europe and Asia are the leading regions for nickel production, accounting for over 70% globally in 2012. Consumption has also been increasing since 2010 and is estimated to grow at a CAGR of around 6.7% from 2013-2017. The document outlines opportunities and challenges for the industry and provides an outlook suggesting consumption growth from infrastructure development though the industry currently faces tough
How will raw material prices and other factor cost drivers influence the overall of cost of goods sold for product being sourced out of China? This outlook gives our readers a clear understanding of the key factors that drive production costs in China for hardline manufacturers. We review global demand, currency markets, metals pricing and freight and consider how the outlook for each of these drivers will influence the cost of hardlines manufactured in China. This semi-annual publication is distributed to our clients and offers a summary of our in depth research. It is used by Sertus and our clients to extract savings from more effective purchasing management and deliveries given the specific outlook for each segment covered.
India has become the worldโs fourth-largest producer of crude steel. The country is slated to become the second-largest steel producer by 2015 as large public and private sector players strengthen steel production capacity in view of the rising demand.
The total market value of the steel sector in India stood at US$ 57.8 billion in 2011 and is expected to touch US$ 95.3 billion by 2016. Total crude and finished steel production grew at a compound annual growth rate (CAGR) of 6.6 per cent and 4.2 per cent over FY08-11 to reach 69.6 million tonnes (MT) and 66 MT respectively.
Steel consumption is expected to grow at an average rate of 6.8 per cent to reach 104 MT by 2017 driven by rising infrastructure development and growing demand for automotives. The infrastructure sector is Indiaโs largest steel consumer, accounting for 63 per cent of total consumption in FY11. Attracted by the growth potential of the Indian steel industry, several global steel players have been planning to enter the market. The Government of India (GOI) has allowed 100 per cent foreign direct investment (FDI) in the sector through automatic route in order to attract foreign investments.
How will raw material prices and other factor cost drivers influence the overall of cost of goods sold for product being sourced out of China? This outlook gives our readers a clear understanding of the key factors that drive production costs in China for hardline manufacturers. We review global demand, currency markets, metals pricing and freight and consider how the outlook for each of these drivers will influence the cost of hardlines manufactured in China. This semi-annual publication is distributed to our clients and offers a summary of our in depth research. It is used by Sertus and our clients to extract savings from more effective purchasing management and deliveries given the specific outlook for each segment covered.
India has become the worldโs fourth-largest producer of crude steel. The country is slated to become the second-largest steel producer by 2015 as large public and private sector players strengthen steel production capacity in view of the rising demand.
The total market value of the steel sector in India stood at US$ 57.8 billion in 2011 and is expected to touch US$ 95.3 billion by 2016. Total crude and finished steel production grew at a compound annual growth rate (CAGR) of 6.6 per cent and 4.2 per cent over FY08-11 to reach 69.6 million tonnes (MT) and 66 MT respectively.
Steel consumption is expected to grow at an average rate of 6.8 per cent to reach 104 MT by 2017 driven by rising infrastructure development and growing demand for automotives. The infrastructure sector is Indiaโs largest steel consumer, accounting for 63 per cent of total consumption in FY11. Attracted by the growth potential of the Indian steel industry, several global steel players have been planning to enter the market. The Government of India (GOI) has allowed 100 per cent foreign direct investment (FDI) in the sector through automatic route in order to attract foreign investments.
Impact of COVID 19 on Steel Industry โ A case Study of RINL, Visakhapatnam St...Dr. Amarjeet Singh
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Steel is by far, the most widely used and is environment friendly as it can be recycled 100%. Steel has wide variety of applications in day to day life. Indeed, steel is the backbone and support of the global economy and infrastructure. Steel has got many forward linkages with manufacturing industries.
Status of global steel industry before the onset of COVID 19 and the effect of pandemic on industry in both global and Indian contexts were discussed. The status of Indian economy was briefly explained and projected outlook for steel market after breakout of the pandemic. The effect of COVID on RINL was discussed in detail and various strategies adopted by the industry during the period were explained. Handling of such future eventualities were addressed. After the outbreak, the recovery and outlook were explained in detail. Interventions and initiatives sought from the Government were presented in this paper.
Global steel industry and in particular China: future outlookMining On Top
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Mining On Top: Stockholm 2013
26-27 Nov 2013
Global steel industry and in particular China: future outlook โ Dr Nae Hee Han, World Steel Association; Chief Economist
about the steel industry,Product of the industry, PEST analysis, Porter's five forces, Market Share, Future of the industry, Growth of the industry, Nation steel policy.
Steel Change may be ahead by Tim Alch May 16 2008 Tim Alch
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In the first three months of 2008, global crude steel output
rose by 5.6% year-on-year. With a cautionary tone, Tim Alch
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steel industry
Impact of COVID 19 on Steel Industry โ A case Study of RINL, Visakhapatnam St...Dr. Amarjeet Singh
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Steel is by far, the most widely used and is environment friendly as it can be recycled 100%. Steel has wide variety of applications in day to day life. Indeed, steel is the backbone and support of the global economy and infrastructure. Steel has got many forward linkages with manufacturing industries.
Status of global steel industry before the onset of COVID 19 and the effect of pandemic on industry in both global and Indian contexts were discussed. The status of Indian economy was briefly explained and projected outlook for steel market after breakout of the pandemic. The effect of COVID on RINL was discussed in detail and various strategies adopted by the industry during the period were explained. Handling of such future eventualities were addressed. After the outbreak, the recovery and outlook were explained in detail. Interventions and initiatives sought from the Government were presented in this paper.
Global steel industry and in particular China: future outlookMining On Top
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Mining On Top: Stockholm 2013
26-27 Nov 2013
Global steel industry and in particular China: future outlook โ Dr Nae Hee Han, World Steel Association; Chief Economist
about the steel industry,Product of the industry, PEST analysis, Porter's five forces, Market Share, Future of the industry, Growth of the industry, Nation steel policy.
Steel Change may be ahead by Tim Alch May 16 2008 Tim Alch
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In the first three months of 2008, global crude steel output
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explains why this may be a year of transition for the global
steel industry
Gold Road Resources (ASX:GOR) Investor Presentation August 2014Symposium
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August 2014 โ Gold Road Resources ASX:GOR, presented their latest investment update to over 250 investors in Sydney and Melbourne.
In this investor update, Ian Murray, Executive Chairman at Gold Road gives an overview of their current position and opportunities.
For more information about Gold Road, visit http://www.goldroad.com.au
For more information about Symposiumโs Investor Roadshows, visit http://symposium.net.au/InvestorRoadshow/
Investor presentation delivered by Gold Road Resources' Managing Director Ian Murray, at the Gold Investment Symposium held in Sydney on the 8th and 9th October 2014
Exploration and Mining Trends in the Digital Age: Global Outlook and Issues i...Tim Alch
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At CESCO Week in Santiago, Chile I spoke about the worldโs need to explore for and mine copper and the importance of knowing early-on how to operate locally to manage risks. While optimistic, over the life of mining any resource, there are many variables and issues owners need to be mindful of including managing many different and often changing expectations. In the case of copper, it is core to the world being connected on smartphones, Facebook, internet, etc., Without copper, it is fair to say we cannot be connected as we all are and expect to be. While copper does have unique properties and the business differs from other commodities, other minerals share similar outlooks as more of the worldโs ~7.2 billion people near term are projected to live in urban areas, enjoy higher standards of living and consume more materials.
Affected by the global economic downturn and the slowdown in economic growth of China, in 2012, the growth rate of global output of cobalt fell sharply, with annual output of 110,000 tons, up by merely 0.9% year on year; the output of refined cobalt also declined dramatically, down 6.1 % year on year to 77,200 tons. In 2013, the global cobalt market rallied slightly, but it was still not optimistic as a whole, it is expected that annual output of cobalt in 2013 will show a year-on-year rise of about 3.6%.
China took the lead to resume its economy in 2009 and made positive anticipation for economic situation in 2010. This is a shot of confidence for nickel producers. In 2009, the nickel output of China still maintained rapid growth, with cumulative production in the first eleven months up to 198 thousand tons.
During this week's Invast Insights we cover:
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IEA publication, May 2024
Critical minerals, which are essential for a range of clean energy technologies, have risen up the policy agenda in recent years due to increasing demand, volatile price movements, supply chain bottlenecks and geopolitical concerns. The dynamic nature of the market necessitates greater transparency and reliable information to facilitate informed decision-making, as underscored by the request from Group of Seven (G7) ministers for the IEA to produce medium- and long-term outlooks for critical minerals.
The Global Critical Minerals Outlook 2024 follows the IEAโs inaugural review of the market last year. It provides a snapshot of industry developments in 2023 and early 2024 and offers medium- and long-term outlooks for the demand and supply of key energy transition minerals based on the latest technology and policy trends.
The report also assesses key risks to the reliability, sustainability and diversity of critical mineral supply chains and analyses the consequences for policy and industry stakeholders. It will be accompanied by an updated version of the Critical Minerals Data Explorer, an interactive online tool that allows users to explore the latest IEA projections.
Putting the SPARK into Virtual Training.pptxCynthia Clay
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This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
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Improving profitability for small businessBen Wann
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As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your companyโs legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, weโll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
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According to TechSci Research report, โIndia Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030โ, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
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1. Global Nickel Industry
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or otherwise without the prior written
permission of the publisher.
2. O verview
Global nickel industry was supported by the world
economic growth until 2007 with rising production
of primary nickel metal. However, economic crisis
affected the worldwide nickel production in 2008 &
2009 and production declined to 1.32 Million Metric
Tons in 2009.
In 2010, primary nickel production recovered rapidly
to 1.45 Million Metric Tons and since then the production is growing continuously. It is estimated that
production will reach around 1.86 Million Metric Tons
by the end of 2013, growing at a CAGR of around
9% during 2010-2013.
Figure 1: Global Primary Nickel Production (Million Metric Tons), 2012-2017
1.86
1.97
2.09
2.34
2.21
1.76
2012
2013e
2014f
2015f
2016f
2017f
Source: International Nickel Study Group (INSG), RNCOS
Note: e/f = RNCOS Estimation/Forecast
Figure 2: Global Primary Nickel Production
by Region, (%), 2012
10.1%
Nickel production is anticipated to grow at a
CAGR of around 6% during 2013-2017 with
opening of more mines leading to more nickel
production.
Europe and Asia are the leading regions for the
nickel production across the world. In 2012, both
the regions accounted for more than 70% of the
total global primary nickel production.
2.4%
16.9%
29.2%
41.4%
Africa
America
Europe
Oceania
Source: INSG
Note: Data is estimated
Asia
3. N ickel Consumption
Since 2010, primary nickel consumption is also increasing
continuoulsy and reached 1.65 Million Metric Tons in 2012.
However, the nickel consumption is less than the production, leading to surplus due to lack of demand for the metal.
Figure 3: Global Primary Nickel Consumption (Million Metric Tons), 2012-2017
2.02
2.16
2.29
2016f
2017f
1.89
1.77
1.65
2012
2013e
2014f
2015f
Source: INSG, RNCOS
Note: e/f = RNCOS Estimation/Forecast
Figure 4: Global Nickel Consumption by
Region (%), 2012
0.2% 1.5%
In future, with rising stainless steel production, nickel
consumption is anticipated to grow at a CAGR of around
6.7% during 2013-2017.
10.2%
21.6%
Like production, Asia and Europe also account for highest nickel consumption in the world. In Asia, the primary
nickel consumption is more than its production leading to
imports from other countries. In 2012, Asia accounted for
more than two-third of the global primary nickel consumption, followed by Europe and Oceania.
66.5%
Africa
America
Europe
Oceania
Source: INSG
Note: Data is estimated
Asia
4. Figure 5: Global Nickel Use by Sector (%), 2012
6%
5%
4%
7%
12%
66.5%
Nickel, through its various uses, plays a large part in
the development of capital infrastructure in economies
worldwide. The metal is widely used in aerospace,
architectural, consumer, industrial, marine, military and
transport applications. The manufacturing of stainless
steels accounts for about 66% of nickel use, followed by
non-ferrous metal products (12%) ands plating (7%).
Stainless Steel
Non-ferrous Metal Products
Plating
Steel CastingsMetal Products
Other Alloy Steels
Other Uses
Source: Metal world
5. Market Driving Factors
โข Stainless steel production - Stainless steel accounts for the highest nickel consumption and
accounted for around 66% of the total nickel use in 2012
โข Nickel consumption in China - China accounts for around half of the worldโs nickel consumption and in 2012, consumption rose 19% compared to the previous year.
โข Technological transformation - To reduce production cost, the nickel players are focusing
on technology transformation for nickel production that will help them to increase their production at low cost.
โข Government support - The global regulatory sentiment saw an increased emphasis on enhancing nickel mine and NPI production. For instance, Brazilโs northern state of Para has reduced
the extraction tax on mining activity from three UPFโs (Standard tax unit) to one UPF for each
extracted tonne of ore. Similarly, government of Inner Mongolia (China) has announced discounts
on electricity fees for NPI producers in the region.
6. O pportunities & Challenges
Opportunities
Nickel-based battery
Nickel-based battery market is likely to cross US$ 7.5 Billion by end of 2017 which will increase
the nickel usage in future. This will be driven by rising demand for portable computers, electronic
devices, medical equipments and electric vehicles.
Nickel-based super alloys
Strong growth in demand for nickel alloys from aerospace industry (23% forecast increase in airline
deliveries, 2012-2020), power generation and oil & gas markets.
Growth in Construction Market
Global construction output is anticipated to grow from US$ 8.7 Trillion in 2012 to US$ 15 trillion by
2025. This will create the demand for stainless steel which in turn will create the demand for nickel.
7. Challenges
Volatility in Prices
In 2012, the nickel market largely underperformed with price for the metal having slumped by 30%
in the middle of the year. So far it looks like this year (2013) will not be better either, as prices have
fallen 19% till August, 2013. Prices are down 38% at from the peak of US$ 22,150 per Metric Ton
last year, trading close to four-year lows due to too much supply and limited demand.
Lack of Demand
The gradual slide in nickel demand is due to number of factors including the fact the Chinese arenโt
purchasing as much nickel. Thatโs because Chinaโs economy is slowing as their biggest customers,
the US and Europe, are trying to claw their way out of financial problems.
In China, the use of stainless steel scrap by consumers is increasing which is affecting the primary
nickel demand.
The economies in the US and Europe are also stagnating, impacting demand for nickel. At the same
time, large mining companies around the world are bringing new mines on line, which is adding to
the supply surplus.
Production from nickel mines is set to outstrip global demand for the second year in a row. Inventories of nickel in warehouses have increased by 85% in the past year to a record high, painting a
bearish picture for nickel demand.
Product Substitution
In Europe & North America, nickel scrap units are replacing primary nickel in not only stainless steel,
but also in alloyed steel and high nickel alloys where possible.
In China, Nickel Pig Iron (NPI) is replacing primary nickel and to some extent stainless steel scrap
due to cost and easy availability.
Similarly, in India, nickel scrap units are increasing faster than primary nickel in stainless steel.
Tax System in Indonesia
Indonesia enacted an export tax system, effective from May 6, 2012, under which a 20% export
tax is levied on 14 raw ores of Indonesia origin, including nickel, with an exception for miners that
plan to build local processing facilities.
This final move will devastate the supply of laterite nickel ore in China and drive the nickel price
dramatically upward.
8. F uture Outlook
Global nickel industry future is facing tough time as companies continue to re-evaluate their existing
projects and options. Some nickel miners have formally announced that they are cutting production or
capacity, while others have already reported significant asset impairment charges. Technical issues, high
capital costs and lower nickel prices are principal reasons for the current situation.
However, the industry has been focusing on developing projects of very large size to earn economies of
scale. As such, the projects are experiencing significant technical difficulties. All these factors are contributing to high capital costs. The companies need to reduce their production of the metal due to lack
of demand. If such reductions take place, and the excess supply in the market is cornered, nickel may
stand a chance of avoiding a performance as disappointing as last yearโs.
With recent concerns expressed by producers on falling nickel prices, and gradual announcements of
cuts in production and the consumption is affecting the future growth of the industry.
However, it is expected that consumption is expected to grow due to an increased demand for stainless
steel in the emerging economies of China, India and Asian countries in the coming years. Expansion of
urban infrastructure, housing developments and ongoing industrialization and urbanization is expected
to result in increased demand.
Moreover, nickel based alloys and batteries will create demand for the metal and support the future
growth of the industry.
9. M ajor Nickel Producers
MMC Norilsk Nickel
Vale SA
Jinchuan Group Ltd
Xstrata Plc
BHP Billiton Ltd
Sumitomo Metal Mining Co
Eramet SA
Anglo American Plc
Figure 6: Global Top Ten Refined Nickel Producers, (%), 2011
Company
OAO GMK Norilsk Nickel
Vale SA
Jinchuan Group Ltd
Xstrata Plc
BHP Billiton Ltd
Sumitomo Metal Mining Co
Eramet SA
Anglo American Plc
Sherritt In ternational Corp
Minara Resources Ltd
Source: CRU Group
Production (โ000 Metric Tons)
286
206
127
106
83
65
54
48
35
30
10. Looking for an in-depth study
Our Proposition
RNCOS is a leading Business Consultancy firm helping its clients to enter new geographies and in attaining
growth by developing market strategies for them.
GROWTH PARTNER
We help you make informed decisions
through the practical application of research, hand holding you to your successโฆ
Critical questions that businesses need to
address:
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Where should you set up your business?
Who should be your distributors?
What is the current market structure & size?
Who should be your customers?
We understand your immediate needs and your long-term goals and objective and work with you on how to accomplish them.
RNCOS blends the best of strategy consulting with the best of market research to provide organizations with accurate, succinct answers to their most important business questions.
Our offerings
Product Segments
Market Insights
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What is the market size
Structure of the market
Who are buyers
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Competitive Assessment
Identification
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Most suitable distributors and
channels for your business.
Analyzing their strength, credibility.
Similar products in the market
Features, attributes & market
share of these products
Customer preferences
Price range of these products
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Financial & strategic analysis of
existing competition
Acceptance level among customers
11. For more information on how we can work with you, contact
MARKETING TEAM
RNCOS
E mail: marketing@rncos.com
Website: www.rncos.com
Phone: +91 120 4224700 /01 / 02/ 03