Released on = February 2, 2007, 2:47 am

Press Release Author = RNCOS

Industry = Industrial

Press Release Summary = Trading sources reported that a tax deduction on
importations of refined nickel in China is not likely to prompt inflow due to high
world prices.

Press Release Body = The China’s Finance Ministry announced that import tax on
refined nickel will be reduced to one percent in January 2007 from two percent on
its Website. This step mirrors the growing need for nickel imports to sustain a
proliferating Chinese economy that consumes over ten percent of the world’s
nickel, a metal widely used for stainless steel production and in plating industry.

The trading value of nickel on December 28, 2006 was $ 33,550 per ton, a two-fold
jump in the same year. Soaring world prices have cut the demand for imported nickel
by China as some of the small and medium-scale plating factories and stainless steel
mills lessen the production of nickel-based products.

A manager at a trading company in northern Inner Mongolia region informed that their
sales reduced to half in 2006 from 2005 and they chose not to stock refined nickel
for spot sales. He was speaking on the reduced demand for imported nickel in China.


However, imported nickel in China in the initial eleven months of 2006 was still
7.6% more (86,908 tons). It was because of insufficient production.

According to a Metal research Analyst at RNCOS, a leading market research company,
the Chinese government wants to foster imports. Nickel is a high-price metal and
really has weakened business. However, the proposed deduction in tax on refined
nickel’s imports in China would come as a relief to the traders.

A new research report called “Nickel Market Outlook (2007)”, has covered
facts and issues that are critical to your business’ success, such as:

-- Insight into market performance trends
-- Position of Nickel stock and Contracts on London Metal Exchange generation
-- Growth sectors and factors impelling change
-- Austenitic and scrap ratio for nickel containing steel indicates
-- Growth opportunities
-- Key Challenges and strategies
-- Future outlook of the market

The report further provides extensive research and rational analysis on the Nickel
Market, its performance and its future prospects.

About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today’s globally competitive environment.

For more information visit: http://www.rncos.com/Report/IM086.htm
Current Industry News: http://www.rncos.com/blog

Web Site = http://www.rncos.com

Contact Details = RNCOS
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92
Ph- 91-11-4214-1229
info@rncos.com