Page 871

  871Nickel 
By Horace T. Reno 1 
 Nickel supply came into closer balance with demand in 1972 because some
of the lower grade, high-cost mines were shut down and nickel consumption
in the United States, Western European countries, and Japan increased rapidly.
Nevertheless, a large surplus nickel supply remained in the producers' inventory
that built up in 1970 and 1971. 
 Canadian nickel producers raised the quoted base price for pure nickel by
approximately 15% the first of September. Producers in other countries except
the United States followed the Canadian lead. 
 The U.S. nickel industry was little affected by the worldwide imbalance
between supply and demand. The domestic price was not changed until late
in the year when the price of domestically produced ferronickel was raised
approximately 7%. Domestic consumers used 25% more nickel in 1972 than in
1971 and more than doubled their use of ferronickel. 
The President approved legislation on 
July 26, 1972, that authorized disposal of all nickel held in the national
stockpile. Stockpile nickel did not re~ach the open market during the year.
Table 1.—Salient nickel statistics 
(Short tons) 
 1968 1969 1970 1971 
1972 
United States: 
   Mine production  17,294 17,056 15,933 17,036   Plant production:     
 Primary  15,241 15,810 15,558 15,654       Secondary  14,061 18,775 23,159
29,657   Exports  33,681 34,758 31,456 26,143   Imports for consumption 
147,950 129,332 156,252 142,183   Consumption  159,306 141,737 155,719 128,802
  Stocks Dec.31: Consumer  27,466 16,574 24,708 16,005   Price cents per
pounL  94—103 103—128 128—133 133World: Mine production
 547,960 536,608 692,710 699,906 
16,864 
15,731 
35,926 
21,671 
178,870 
159,286 
26,205 
133—153 
698,007 
DOMESTIC PRODUCTION 
The Hanna Mining Co. at Riddle, Oreg., refineries. Part of the byproduct
nickel 
was the sole producer of primary nickel in originated from scrap. 
the United States. Byproduct nickel salts 
were produced at copper and other metal Phyiicalscientiit, Division of Ferrous
Metals. 
Table 2.—Primary nickel produced in the United States 
(Short tons, nickel content) 
 1968 1969 1970 1971 
1972 
Byproduct of metal refining 2,117 2,714 2,909 2,581Domestic ore 13,124 13,096
12,649 13,073 
2,505 
13,226