News article from Philstar.com by Zinnia dela Peña
The value of the shipment for the first semester is $129.88 million. The rise of sales in nickel in particular, is a positive outcome since it proves that the demand for nickel is strong. It was mentioned in the article that there was a slowdown in the growth rate of China, and that this resulted to the weakening of metal prices. The rise in sales of nickel proved this otherwise. The Philippines is a major exporter of metals to China, and their growth rate has been related to the export of nickel. Further research showed that during the boom of China’s growth rate in 2006, the export of nickel in the Philippines also went up dramatically. China uses the raw materials to create new products, and then sells these finished products. The rise of the sales of nickel for the first half of the year then, may be proof that China is not the only factor that contributes to the production and sales of nickel in general. There are a lot of other countries that can contribute to the rise of nickel sales. Japan used to be one of them, until the recent boom of nickel sales in China in 2006, which could be related to the Olympics in Beijing then.
Cabangbang, Grace Key
De Luna, Francis Noah