Nickel market report November 2017

Contents

Abstract 2
1 Company news 2
1.1 Xin Bei Inorganic Chemical expects to raise nickel sulfate output in November 2
1.2 Shanwei Group closes ferronickel output in October 2
1.3 Baoxiang Cast to decrease ferronickel output in November 2
2 Chinese market review 2
2.1 Prices for nickel cathodes down by a large margin 2
2.2 Ferronickel prices up first then down 3
2.3 Prices for battery grade nickel sulfate goes up 4
2.4 Lateritic nickel ore prices up first then down 4
3 International market review 5
3.1 LME nickel prices up further 5
3.2 Prices for Philippine lateritic nickel ore moves down 5
4 Production and stocks data 6
4.1 Chinese nickel cathode output down by 3.1% MOM in November 6
4.2 Chinese ferronickel output down by 20.8% MOM in November 6
4.3 Chinese nickel sulfate output up by 7.2% MOM in October 7
4.4 Chinese ferronickel smelter lateritic nickel ore stock up by 16.2% MOM in November 7
5 Analysis on Import and export data 8
5.1 China's refined nickel and nickel alloy imports down by 8.5% MOM in October 2017 8
5.2 China's ferronickel imports up by 6.2% MOM in November 9
5.3 Chinese lateritic nickel ore imports down by 38.3% MOM in October 10
5.4 China's nickel hydrometallurgy intermediates imports down by 46% MOM in October 12
6 Market outlook 13
6.1 Nickel cathode 13
6.1 Nickel cathode 13
6.2 Ferronickel 13
6.3 Nickel sulfate 13
6.4 Lateritic nickel ore 13


GRAPHS

Graph 1 Jinchuan nickel cathode price in the Chinese spot market from Oct to Nov (RMB/t) 2
Graph 2 Norilsk nickel cathode prices in the Chinese spot market from Oct to Nov (RMB/t) 2
Graph 3 Inco nickel prices in the Chinese spot market from Oct to Nov (RMB/t) 2
Graph 4 Delivered-to-plants prices for Chinese ferronickel 10%min from Oct to Nov (RMB/mtu) 2
Graph 5 Chinese ferronickel 1.5% EXW prices from Oct to Nov (RMB/t) 3
Graph 6 Chinese battery grade nickel sulfate prices from Oct to Nov (RMB/t) 3
Graph 7 Chinese NCM 523 precursor prices from Oct to Nov (RMB/t) 3
Graph 8 Chinese electroplating grade nickel sulfate prices from Oct to Nov (RMB/t) 3
Graph 9 Chinese lateritic nickel ore 1.8%min prices in ports from Oct to Nov (RMB/t) 4
Graph 10 Chinese lateritic nickel ore 1.5%min in ports from Oct to Nov (RMB/t) 4
Graph 11 LME nickel prices from Oct to Nov (USD/t) 4
Graph 12 Stocks for LME nickel from Oct to Nov (t) 4
Graph 13 CIF Prices for Philippine origin lateritic nickel ore 1.5% in China from Oct to Nov (USD/t) 4
Graph 14 CIF Prices for Philippine origin lateritic nickel ore 1.8% in China from Oct to Nov (USD/t) 5
Graph 15 Lateritic nickel ore stocks in China from Jan 2016 to October 2017 (kt) 7
Graph 16 China's monthly imports for refined nickel from Jan 2016 to Oct 2017 (t) 7
Graph 17 China's monthly imports for refined nickel by country from Jan 2016 to Oct 2017 (t) 7
Graph 18 China's monthly imports for Philippines origin lateritic nickel ore from Jan 2016 to Oct 2017 (10kt) 10
Graph 19 China's monthly imports for nickel hydrometallurgy intermediates from Jan 2016 to Oct 2017 (t) 11

Tables

Table 1 China's NCM precursor outputs by province (t) 6
Table 2 China's refined nickel imports in Oct 8
Table 3 China's top 10 importers for refined nickel in Oct 8
Table 4 China's imports for ferronickel in Oct 2017 9
Table 5 China's top 5 ferronickel importers in Oct 9
Table 6 China's imports for nickel ore in Oct 10
Table 7 China's top 10 importers for nickel ore in Oct 11
Table 8 Top five Chinese importers of nickel hydrometallurgy intermediates in Oct 12









.Asian Metal Copyright2 China's ferronickel imports up by 6Asian Metal Copyright