Nickel Price Research Articles

Deformation induced martensitic transformation in a 201 modified austenitic stainless steel

The production of low nickel austenitic stainless steels has increased considerably mainly due to nickel price evolution in the last years. In the present work, the susceptibility to deformation induced martensitic transformation of a 201 modified stainless steel was evaluated. The results were compared to existing results of traditional AISI 304 steel. The variation of martensite volume fraction against true strain was modeled by a sigmoidal equation and the transformation rate was also determined.

New Stainless Steel Solutions as Economic Alternatives to Classical 1.4301 Austenitic Grades

In the recent situation of a historically high nickel price, austenitic stainless steels, such as 1.4301, became too expensive compared to their actual technical value in many applications. This paper presents two new stainless steel grades developed by ArcelorMittal to replace 1.4301. The first one is a 20%Cr ferritic grade. The second one is a low‐Ni Cu‐bearing austenitic grade. The choices in the compositions are described as a function of the technical requirements, economical target and the production process limitations. The final properties are discussed as a function of the composition and compared with 1.4301 and other existing stainless steels. Finally, the complementarities of these two new grades are highlighted in regard to the different application markets considered.

世界の鉱業界における中国の台頭

During the past two decades, China had achieved remarkable economic growth with the annual average increase in GDP (Gross Domestic Growth) by 10%. The strong economic growth was aided by increasing domestic investment and export-oriented industrial production particularly after the participation of WTO (World Trade Organization) in 2001. In 2007, China ranked number one metal consuming country of copper,lead,zinc,nickel, aluminium and so on. Along with the expanding demand of metals, China became importing country of many mineral commodities except for rare metals such as rare earth,antimony and tungsten etc. With the rapid increase of metal consumption, LME metal prices has been rising since 2003. Particularly, copper, zinc and nickel prices 4~6 times higher during 2003-2007. Especially, 2006 prices were skyrocketing, and even now in 2008 maintains the higher level of copper,aluminum,gold and so on. Higher metal prices are supported by expanding metal demands mainly by China, and inflow of speculative market into mineral commodity. The current higher metal prices have a great influence on world mining industry, and creating several issues from the viewpoint of countries, corporation, and stake holders. This paper includes (1) current soaring prices of metals , (2) fact of expanding mineral consumption in China, (3) impact of higher metal prices on world major companies, (4) influences on Japanese smelting companies.

The bioleaching of nickel-copper sulfides

Demand for nickel, largely driven by the Chinese stainless steel market, currently exceeds production, causing an unprecedented rise in the price of nickel and renewed interest in bioleaching technology for the processing of low grade nickel sulfide ores and concentrates. Although nickel inhibits bacterial physiological functions such as iron- and sulfur-oxidation, some bacteria adapt readily to high concentrations. In pilot‐scale continuous reactors, mixed microbial populations grew actively over many months in the presence of up to 400 mM nickel (23 g/L). The results of bench-scale test work have been sufficiently encouraging to prompt pilot- and demonstration-scale trials in heaps and agitated tanks in Australia, China, Finland and South Africa in recent years. The first commercial implementation of nickel sulfide heap leaching is likely to be the operation at Talvivaara, Finland.

Chromium leads the way in the battle of commodity prices

The sky-high nickel prices of the past two years have sparked far more interest in the virtues of chromium-alloyed PM steels – not least of which attractions are cost-related. Joe Capus reports on findings revealed by two of the largest steel powder manufacturers at the MPIF's Denver conference…

Efforts to Save Nickel in Austenitic Stainless Steels

The price of nickel is maintaining high level due to the demand continuing to outstrip supply, therefore the stainless steel, which is the largest consumer of nickel, has been maintaining a high-price. In this review, the way of nickel saving by more than half and the comparison of properties between the nickel saving stainless steels and Type 304 were reviewed, and the problem caused by the use of the nickel saving stainless steels were discussed. Nickel saving stainless steels have the following 4 types; martensitic stainless steels, ferritic stainless steels, duplex stainless steels and Cr-Mn-Ni austenitic stainless steels. Nickel saving stainless steels have both superior and inferior points as compared to Type 304, however they have a large possibility of substitution for Type 304. Further expansion of the use of nickel saving stainless steels is expected if the properties required for the stainless steel are reconsidered for proper demands.

Measurement of the in situ value of exhaustible resources: An input distance function

We develop a methodology to derive the shadow in situ price of nickel by utilizing an input distance function, which can improve upon previous estimates. Our estimates hold regardless of market power and actual cost minimization. The time path of the shadow in situ price is obtained using annual data for Inco, a nickel company. Empirical results suggest a slightly increasing in situ price of nickel over the period 1947–92, but the dynamic optimality condition does not hold. Comparison with the time path of the in situ price obtained by estimating a cost function indicates a sizable discrepancy between the two time trajectories.

オーステナイト系ステンレス鋼の省ニッケル化

The price of nickel is maintaining high level due to the demand continuing to outstrip supply, therefore the stainless steel, which is the largest consumer of nickel, has been maintaining a high-price. In this review, the way of nickel saving by more than half and the comparison of properties between the nickel saving stainless steels and Type 304 were reviewed, and the problem caused by the use of the nickel saving stainless steels were discussed. Nickel saving stainless steels have the following 4 types; martensitic stainless steels, ferritic stainless steels, duplex stainless steels and Cr-Mn-Ni austenitic stainless steels. Nickel saving stainless steels have both superior and inferior points as compared to Type 304, however they have a large possibility of substitution for Type 304. Further expansion of the use of nickel saving stainless steels is expected if the properties required for the stainless steel are reconsidered for proper demands.

Maximize tube life by using internal and external inspection devices

AbstractProviding plant operator/owners the ability to substantially extend tube life in Steam Reformers is essential in maximizing use of capitol investments in Methanol, Hydrogen, and Ammonia plants. With price of Nickel at an all time high, a reformer tube can cost $20,000 USD installed in today's market. A plant needs to have data which will allow engineers to better manage these tubes to extend life expectancy beyond the typical 100,000 operating hours specified by the tube manufacturers.Over the last +6 years well over 100 plants around the world have applied the LOTIS™ laser‐based reformer tube testing technique to obtain invaluable information as it relates to steam reformer tube damage in its early stage as well as determine when a tube should be retired. Plant engineers have acknowledged the power of having such highly detailed 3‐Dimensional images to better understand issues with fluegas maldistribution, flame impingement, refractory problems, etc. The one and only complaint is that the “internal” LOTIS™ could only be applied when catalyst was not inside the tube. This limited the inspections to 3–4 times over the course of the tube, which obviously left gaps in the inspection frequency requiring plants to relay on less accurate and less encompassing conventional inspection technologies.Over the last few years development has been underway of an “external” LOTIS™ reformer tube inspection technology. During the developmental phase of this technology it has been globally applied within several steam reformers to provide confirmation to the validity of the data. Final release of this new “external” LOTIS™ reformer tube inspection method has now taken place. The newly release “external” devise will compliment the already industry accepted “internal” LOTIS™ laser reformer tube inspection process. Plant engineers now have the ability to collect tube condition data any time the plant is taken off line, regardless if catalyst is in the tube or not, to determine the presence and extent of Creep Strain damage. Because the “external” system employs numerous sensors, similar to that of the “internal” system, high‐resolution 3‐Dimensional, high‐resolution color images are generated to continue with previously reformer tube management philosophy put in place with the original LOTIS™ internal laser‐based technique.During the design phase of the external crawler, top priority was given to the physical height of the crawler. Because >75% of creep strain damage in reformer tubes is located below the top of the tunnel or coffin region, it was essential that the crawler have the capability of traversing all the way to the bottom of the tunnel, up to the floor refractory. This low profile external crawler is now capable of covering ∼20% more of the tube's axial length than that of typical external. This is essential in maximizing the opportunity of detecting and quantifying creep strain within a tube which is filled with catalyst and does not have access to the interior bore.The reformer tube management program now encompasses both internal and external inspection capabilities. A client will now have the ability to applying either internal or external technique depending upon the presence of catalyst or not. The intent of the newly external technique is not to replace the internal “LOTIS” technique; however it is intended to bridge the gap between internal inspection frequencies which can only be carried out during catalyst change outs. © 2005 American Institute of Chemical Engineers Process Saf Prog, 2005

'The Real Thing': Nominal Price Rigidity of the Nickel Coke, 1886-1959

We report that the price of a 6.5oz Coke was 5¢ from 1886 until 1959. Thus, we are documenting a nominal price rigidity that lasted more than 70 years! The case of Coca-Cola is particularly interesting because during the 70-year period there were substantial changes in the soft drink industry as well as two World Wars, the Great Depression, and numerous regulatory interventions and lawsuits, which led to substantial changes in the Coca-Cola market conditions. The nickel price of Coke, nevertheless, remained unchanged. We find that this unusual rigidity is best explained by (1) a contract between the Company and its parent bottlers that encouraged retail price maintenance, (2) a single-coin vending machine technology, which limited the Company's price adjustment options due to limited availability and unreliability of the existing flexible price adjustment technologies, and (3) a single-coin monetary transaction technology, which limited the Company's price adjustment options due to the customer inconvenience cost. We show that these price adjustment costs are of a different nature than the standard menu cost, and their estimates exceed the existing estimates by an order of magnitude. A possible broader relevance of the nickel Coke phenomenon is discussed in the context of Nickel and Dime Stores, which were popular in the US in the late 1800s and the early 1900s.

"The Real Thing": Nominal Price Rigidity of the Nickel Coke, 1886-1959

We report that the price of a 6.5-oz Coca-Cola was 5c from 1886 until 1959. Thus, we are documenting a nominal price rigidity that lasted more than 70 years! The case of Coca-Cola is particularly interesting because during the 70-year period there were substantial changes in the soft drink industry as well as two World Wars, the Great Depression, and numerous regulatory interventions and lawsuits, which led to substantial changes in the Coca- Cola market conditions. The nickel price of Coke, nevertheless, remained unchanged. We find that this unusual rigidity is best explained by (1) a contract between the Company and its parent bottlers that encouraged retail price maintenance, (2) a single-coin vending machine technology, which limited the Company's price adjustment options due to limited availability and unreliability of the existing flexible price adjustment technologies, and (3) a single-coin monetary transaction technology, which limited the Company's price adjustment options due to the customer "inconvenience cost." We show that these price adjustment costs are of a different nature than the standard menu cost, and their estimates exceed the existing estimates by an order of magnitude. A possible broader relevance of the nickel Coke phenomenon is discussed in the context of Nickel and Dime Stores, which were popular in the US in the late 1800s and the early 1900s.

Abrasive wear properties of experimental metastable duplex stainless steels

Based on the successful implementation of a range of duplex CrMnN alloys as pit props (hydraulic roof supports) used in deep level mines, it was envisaged that these alloys could be used in other mining applications. This paper thus evaluates the wear properties of a range of experimental metastable duplex CrMnN alloys under impact abrasive wear conditions. Other properties such as hardness, tensile strength and impact resistance are also examined so as to give a complete overview of the alloys' properties. Apart from the beneficial properties imparted to these alloys by nitrogen additions, the low nickel content means that the costs of these alloys are not subject to the high and variable market price of nickel.

Comparative costs of nickel sulphides and laterites

Although relative production costs of nickel from laterite and sulphide deposits have changed during the period 1988 to 1994, cash break even costs of the average sulphide producer remain below those of the average laterite producer. Sulphide producers have higher direct production costs but lower net production costs because of significant byproduct credits. However, total costs, which include capital, are now equal for the average laterite and sulphide producers. Relative production costs have been influenced by simultaneous yearly changes in byproduct and nickel prices, oil prices and exchange rates as well as real changes in actual production, transport and capital investments. In the absence of major shifts in energy or byproduct prices, the average sulphide producer will continue to experience lower cash operating costs gained through capital investments than the average laterite producer. This suggests that the average nickel sulphide operation is more able to withstand cyclic nickel price downturns.

The prospects for nickel What price new capacity?

The average LME nickel price in 1988 was $6.26/lb and in 1989 was $6.00/lb. This contrasts with an average price of $2.11/lb over the period 1982–87. The reasons for this run up on price include increased demand for stainless steel (the largest use of nickel), reflecting the period of sustained economic growth in the OECD countries, and the decline in market stocks which reached unusually low levels in 1987 and 1988. Forecasts of nickel supply and demand for 1990 and beyond are presented and the need for additional capacity estimated. In general new greenfield capacity will not be needed until the late 1990s.

Nickel Resources of Australia: ABSTRACT

Australia has the potential to become a major world source of nickel. Nickel production is currently 43,000 tons a year and projects in the development stage will lift this to 95,000 tons by 1975-1976. The deposits on which this production will be based have all been discovered during the last eight years. The largest reserves of nickel have been found in Western Australia in the form of sulfide concentrations associated with ultramafic rocks in Archean volcanic belts, and this environment has the potential for further major discoveries. Despite the widespread nickel in these areas it remained undiscovered until 1966 even though exploration in association with gold mining had been active for over 70 years. Concentrations of lateritic nickel are over ultramafic rocks in Queensland and Western Australia. The history of the discovery of Australia's nickel resources and consideration of the country's potential as a future source of nickel highlight certain factors fundamental to the development of the mineral resources of any country. The decision must be made to explore and requires belief in the possible existence of certain types of ore and confidence that economic benefits will result if ore is found. It is important for exploration to be concentrated in geologically favorable environments, using effective techniques, and it must be possible to bring discoveries into profitable operation if exploration is to be sustained and development implemented. The limited size of the nickel market is a factor particularly significant in this regard. The price of nickel in Australian currency and the cost structure in Australia relative to other producing countries are critical factors which will determine the extent to which the Australian nickel resources will be exploited. End_of_Article - Last_Page 1462------------

Rational development of sea-bed resources: Issues and conflicts

Abstract In order to achieve a rational development of sea-bed resources it will be necessary to resolve the conflict of interests between the present producers of the minerals involved (especially if they are developing countries) and the future ones. An analysis shows that it is improbable that hydrocarbon production from the sea-bed area under international jurisdiction will depress oil and gas prices in the foreseeable future. Technical problems are likely to make the recovery from the sea-bed of metalized muds, hot brines, and manganese encrustation uneconomic in the coming decades. Manganese nodules, containing Cu, Ni, Co, and Mn, will perhaps be mined from the sea-bed by the end of this decade. It is concluded that even in the absence of controls, the levels of nodule exploitation which are likely to occur in the future would not depress copper prices. It may be necessary to slow down the recovery of cobalt and manganese from the nodules by the imposition of a “tax” brake, and to provide compensation to the developing countries that would be affected by the nodule industry. It is expected that any serious pressure on nickel prices would be slow to arise, and that the new marine producers and the traditional exporters will find it mutually advantageous to negotiate arrangements to prevent serious market disturbances.

NOTES ON THE STAINLESS STEEL MARKET

Until the strike broke out at the mines of the International Nickel Company in Canada, in July 1969, there had been relative stability in the stainless steel market in this country for many years. Before the Iron & Steel Board was abolished, its price list had been accepted as the ruling one; later, after the British Steel Corporation was formed in 1967, its list was used. However, the nickel strike put an end to all that. By the time the strike ended the price of nickel had reached, momentarily, the dizzy height of £7,000/ton. Mills were quoting 40 week deliveries for stainless steel, often tongue in cheek, as they waited for the strike to end and raw material prices to come down.

Nickel price hike likely to affect stainless

Nickel price hike likely to affect stainless