If you look at where we sell, the bulk of our production goes into the United States, which is the highest margin market. The lowest margin market is Europe, which is basically where the Russian nickel naturally flows. Our market share as a producer is lowest in Europe, and highest in the United States and the Far East, where the growth is both in terms of stainless steel demand and particularly in the area of special products. We re the only nickel producer out there that s actively involved in the production and marketing of special products like foams and powders that are critical to new economy markets and products such as cell phones and cordless power tools. Particularly exciting now is the hybrid automobile.
Hybrids combine an internal combustion engine working in tandem with a rechargeable battery.
This market is only beginning to ramp up but should become very important within a very short time. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.