• Submitted by: admin
• Caribbean
• Holguín
• national
• Business and Economy
• Science and Technology
• 12 / 29 / 2008

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Authorities have ratified that estimate despite the severe damage caused by hurricanes and the drop in prices on the international market.

As an example, they recalled that nickel prices have decreased drastically from 53,000 dollars to 9,000 dollars per ton at present.

That situation demands a constant reduction of production costs, as sometimes that indicator is similar to prices, so efficiency is necessary in the nickel sector.

The international financial crisis resulted in a reduction in production of stainless steel, of which nickel is a major component.

However, Cuba's nickel industry might contribute 550 million dollars in net revenues to the country's economy in 2008.

(ACN)