Ningfeng Group decreases ferronickel production
2021-03-11 11:56:58 [Print]
BEIJING (Asian Metal) 11 Mar 21 - Yingkou Ningfeng Group Co., Ltd., one of the main producers of ferronickel 10%min in Liaoning, runs only one production line in March. It is estimated that the output of ferronickel 10%min would drop by about 3,000t on a month on month basis, a source of the company disclosed to Asian Metal.
"In March, we only started one ferronickel production line. It is estimated that the output of ferronickel 10%min would drop to around 4,000t in March," noted the source. Since late February, nickel ore prices have been rising. Lateritic nickel ore 1.5%min price has increased by about USD10/t, but ferronickel 10%min price has decreased by about RMB50/t (USD7.69/t). In order to maintain the stability of production and sales, the plant temporarily reduced ferronickel 10%min output.
The plant purchases lateritic nickel ore 1.5%min to produce ferronickel 10%min. It has two ferronickel production lines, with an annual production capacity of 144,000t. The plant produced about 60,000t in 2020 and about 70,000t in 2019. It produced around 7,000t in February, and expects the output would drop to about 4,000t this month. It holds no stocks now.
Mainstream prices for Chinese ferronickel 10%min stood at RMB1,140-1,160/mtu (USD175-178/mtu) this Wednesday, stable from early this week. In view of high cost, the source expects that the price of ferronickel 10%min would keep firm in the coming week.
"In March, we only started one ferronickel production line. It is estimated that the output of ferronickel 10%min would drop to around 4,000t in March," noted the source. Since late February, nickel ore prices have been rising. Lateritic nickel ore 1.5%min price has increased by about USD10/t, but ferronickel 10%min price has decreased by about RMB50/t (USD7.69/t). In order to maintain the stability of production and sales, the plant temporarily reduced ferronickel 10%min output.
The plant purchases lateritic nickel ore 1.5%min to produce ferronickel 10%min. It has two ferronickel production lines, with an annual production capacity of 144,000t. The plant produced about 60,000t in 2020 and about 70,000t in 2019. It produced around 7,000t in February, and expects the output would drop to about 4,000t this month. It holds no stocks now.
Mainstream prices for Chinese ferronickel 10%min stood at RMB1,140-1,160/mtu (USD175-178/mtu) this Wednesday, stable from early this week. In view of high cost, the source expects that the price of ferronickel 10%min would keep firm in the coming week.
Nickel Ore Philippine 0.8%min In port China
Unit:RMB/mt
China ferronickel producers' output statistics by province by month
Unit: mt
