Nickel Market Report March 2016

Content
Abstract 1
1 Company news 1
1.1 Jien Nickel expects to resume normal nickel cathode capacity in April 1
1.2 Lutai Special Steel accelerates construction of ferronickel plant in Indonesia 1
1.3 Guangxi Yinyi reaches planned capacity of nickel sulfate for phase I production 1
2 Chinese domestic market review 1
2.1Nickel cathode prices hover around low levels 1
2.2 Low grade ferronickel prices continue to rise 2
2.3 Nickel sulfate prices fluctuate at low levels 2
2.4 Prices for lateritic nickel ore rebound slightly 3
3 International market review 3
3.1 LME nickel price rebounds after hitting bottom 3
3.2 Prices for Philippine-origin lateritic nickel ore with low Ni and high Fe rise 4
4 Product Data 4
4.1 China’s nickel cathode output up by 8% MOM in March 4
4.2 Chinese ferronickel output up 49% MOM in March 5
4.3 China lateritic nickel ore stocks down 4.4% MOM in March 6
5 Import data analysis 6
5.1 Chinese refined nickel imports down by 16.3% MOM in February 6
5.2 Chinese ferronickel imports down by 2.8% MOM in February 2016 8
5.3 China lateritic nickel ore imports down 39.6% MOM during February 9
6 Market outlook 10
6.1 Nickel cathode 10
6.2 Ferronickel 10
6.3 Nickel salts 10
6.4 Lateritic nickel ore 10


Graph content
Graph 1 Prices for Jinchuan nickel on Chinese spot market in Feb. - Mar. 1
Graph 2 Prices for Norilsk brand nickel on Chinese spot market in Feb. - Mar. 2
Graph 3 Prices for Inco brand nickel on Chinese spot market in Feb.- Mar. 2
Graph 4 Prices for ferronickel 10%min delivered to plant in China in Feb. - Mar. 2
Graph 5 Prices for ferronickel 1.5%min ex works in China in Feb.Asian Metal Copyright 2016 7 Graph 22 Chinese ferronickel imports in Jan.Asian Metal Copyright - Mar. 2
Graph 6 Prices for Chinese battery grade nickel sulfate 22% in Feb. - Mar. 3
Graph 7 Prices for Chinese electroplate grade nickel sulfate 22% in Feb. - Mar. 3
Graph 8 Prices for Chinese lateritic nickel ore 1.8% delivered-at-ports in Feb.Asian Metal Copyright 2016 7 Graph 22 Chinese ferronickel imports in Jan.Asian Metal Copyright - Mar. 3
Graph 9 Prices for Chinese lateritic nickel ore 1.5% delivered-at-ports in Feb.Asian Metal Copyright 2016 10kt 8 Graph 23 Chinese ferronickel imports from different countries in Jan.Asian Metal Copyright - Mar. 3
Graph 10 LME nickel cash price trend in Feb. - Mar. 4
Graph 11 LME nickel inventory in Feb. - Mar. 4
Graph 12 CIF prices for lateritic nickel ore 1.5% in China in Feb.Asian Metal Copyright 2015 –Mar.Asian Metal Copyright - Mar. 4
Graph 13 China’s nickel cathode output in Jan. 2015 –Mar. 2016 4
Graph 14 China’s monthly nickel cathode output by province in Jan. 2015 –Mar. 2016 5
Graph 15 China ferronickel output in Jan. 2015 –Mar. 2016 5
Graph 16 China ferronickel output by province in Jan. 2015 –Mar. 2016 5
Graph 17 China lateritic nickel ore stocks in Feb. 2015 –Mar. 2016 6
Graph 18 China lateritic nickel ore consumption in Jan. 2015 –Mar. 2016 6
Graph 19 China lateritic nickel ore stocks by category in Feb. 2015 –Mar. 2016 6
Graph 20 Chinese refined nickel imports in Jan. 2015 –Mar. 2016 7
Graph 21 Chinese refined nickel imports by country in Jan. 2015 –Mar. 2016 7
Graph 22 Chinese ferronickel imports in Jan. 2015 –Mar. 2016 (10kt) 8
Graph 23 Chinese ferronickel imports from different countries in Jan. 2015 –Mar. 2016 (tonnes) 8
Graph 24 Lateritic nickel ore imports in Jan. 2015 –Mar. 2016 9
Graph 25 Imports of Philippine-origin lateritic nickel ore in Jan. 2015 –Mar. 2016 9
Table Content
Table 1 Imports for refined nickel during February in China 7
Table 2 Top Ten Refined Nickel importers in Feb. 2016 7
Table 3 Chinese ferronickel imports in February 8
Table 4 Top Ten Ferronickel importers in Feb. 2016 9
Table 5 Imports for lateritic nickel ore during February in China 9
Table 6 Top Ten Lateritic nickel or importers in Feb. 2016 10
.Asian Metal Copyright 2015 –MarAsian Metal Copyright