Nickel market report August 2017

Contents

ABSTRACT 1
1 COMPANY NEWS 1
1.1 XUHONG MACHINERY TO RESUME FERRONICKEL PRODUCTION 1
1.2 NINGFENG MAGNESIUM INDUSTRY EXPECTS FULL PRODUCTION IN AUGUST 1
1.3 MEISHAN SHUNYING MATERIAL PLANS TO RESUME NCM PRECURSOR PRODUCTION IN LATE AUGUST 1
2 CHINESE MARKET REVIEW 2
2.1 PRICES FOR NICKEL CATHODES GOES UP SHARPLY 2
2.2 FERRONICKEL PRICES CONTINUE TO GO UP 2
2.3 PRICES FOR NICKEL SULFATE MOVE UP FURTHER 3
2.4 LATERITIC NICKEL ORE PRICES BY LARGE MARGIN 3
3 INTERNATIONAL MARKET REVIEW 4
3.1 LME NICKEL PRICES UP FURTHER 4
3.2 PRICES FOR PHILIPPINE LATERITIC NICKEL ORE MOVES UP AGAIN 4
4 PRODUCTION AND STOCKS DATA 5
4.1 CHINESE NICKEL CATHODE OUTPUT DOWN BY 8.2% MOM IN AUGUST 5
4.2 CHINESE FERRONICKEL OUTPUT UP BY 14% MOM IN AUGUST 5
4.3 CHINESE NICKEL SULFATE OUTPUT UP BY 3.1% MOM IN AUGUST 6
4.4 CHINA’S LATERITIC NICKEL ORE STOCKS DOWN BY 13% MOM IN AUGUST 6
5 ANALYSIS ON IMPORT AND EXPORT DATA 7
5.1 CHINA’S REFINED NICKEL AND NICKEL ALLOY IMPORTS UP BY 56.2% MOM IN AUGUST 2017 7
5.2 CHINA’S FERRONICKEL IMPORTS DOWN BY 2.7% MOM IN JUL 8
5.3 CHINA’S IMPORTS FOR LATERITIC NICKEL ORE UP BY 35.8% IN JULY 2017 9
5.4 CHINA’S NICKEL HYDROMETALLURGY INTERMEDIATES IMPORTS DOWN BY 4% MOM IN JULY 11
6 MARKET OUTLOOK 11
6.1 NICKEL CATHODE 12
6.1 NICKEL CATHODE 12
6.2 FERRONICKEL 12
6.3 NICKEL SALT 12
6.4 LATERITIC NICKEL ORE 12


GRAPHS

GRAPH 1 JINCHUAN NICKEL CATHODE PRICE IN THE CHINESE SPOT MARKET FROM JUL TO AUG (RMB/T) 2
GRAPH 2 NORILSK NICKEL CATHODE PRICES IN THE CHINESE SPOT MARKET FROM JUL TO AUG (RMB/T) 2
GRAPH 3 INCO NICKEL PRICES IN THE CHINESE SPOT MARKET FROM J JUL TO AUG (RMB/T) 2
GRAPH 4 DELIVERED-TO-PLANTS PRICES FOR CHINESE FERRONICKEL 10%MIN FROM JUL TO AUG (RMB/MTU) 3
GRAPH 5 CHINESE FERRONICKEL 1.5% EXW PRICES FROM J JUL TO AUG (RMB/T) 3
GRAPH 6 CHINESE BATTERY GRADE NICKEL SULFATE PRICES FROM JUL TO AUG (RMB/T) 3
GRAPH 7 CHINESE NCM 523 PRECURSOR PRICES FROM JUL TO AUG (RMB/T) 3
GRAPH 8 CHINESE ELECTROPLATING GRADE NICKEL SULFATE PRICES FROM JUL TO AUG (RMB/T) 3
GRAPH 9 CHINESE LATERITIC NICKEL ORE 1.8%MIN PRICES IN PORTS FROM JUL TO AUG (RMB/T) 4
GRAPH 10 CHINESE LATERITIC NICKEL ORE 1.5%MIN IN PORTS FROM J JUL TO AUG (RMB/T) 4
GRAPH 11 LME NICKEL PRICES FROM JUL TO AUG (USD/T) 4
GRAPH 12 STOCKS FOR LME NICKEL FROM JUL TO AUG (T) 4
GRAPH 13 CIF PRICES FOR PHILIPPINE ORIGIN LATERITIC NICKEL ORE 1.5% IN CHINA FROM JUL TO AUG (USD/T) 4
GRAPH 14 CIF PRICES FOR PHILIPPINE ORIGIN LATERITIC NICKEL ORE 1.8% IN CHINA FROM JUL TO AUG (USD/T) 5
GRAPH 19 LATERITIC NICKEL ORE STOCKS IN CHINA FROM JAN 2016 TO AUG 2017 (KT) 6
GRAPH 20 CHINA’S MONTHLY IMPORTS FOR REFINED NICKEL FROM JAN 2016 TO AUG 2017 (T) 7
GRAPH 21 CHINA’S MONTHLY IMPORTS FOR REFINED NICKEL BY COUNTRY FROM JAN 2016 TO AUG 2017 (T) 7
GRAPH 23 CHINA’S MONTHLY IMPORTS FOR PHILIPPINES ORIGIN LATERITIC NICKEL ORE FROM JAN 2016 TO JUN 2017 (10KT) 10
GRAPH 24 CHINA’S MONTHLY IMPORTS FOR NICKEL HYDROMETALLURGY INTERMEDIATES FROM JAN 2016 TO JUL 2017 (T) 11

Tables

Table 1 China’s NCM precursor outputs by province (t) 6
Table 2 China’s refined nickel imports in July 7
Table 3 China’s top 10 importers for refined nickel in July 8
Table 4 China’s imports for ferronickel in July 2017 9
Table 5 China’s top 5 ferronickel importers in July 9
Table 6 China’s imports for nickel ore in July 10
Table 7 China’s top 10 importers for nickel ore in July 10
Table 8 Top five Chinese importers of nickel hydrometallurgy intermediates in July 11








.Asian Metal Copyright1 PRICES FOR NICKEL CATHODES GOES UP SHARPLY 2 2Asian Metal Copyright