Monthly Nickel Market Report Jul 2023

Content

1. Market Highlights 4
2. Economy and Policy 4
2.1 Indonesia probes possible illegal nickel ore exports to China 4
2.2 EU to take action against ban on Indonesian nickel exports 4
3. Market Movement 4
3.1 Chinese Market Movements 4
3.1.Asian Metal Copyright8%min CIF China 15 .Asian Metal Copyright1 Chinese nickel cathode 99.96%min EXW China 4
3.1.Asian Metal Copyright6 Ferronickel 1.Asian Metal Copyright2 Norilsk nickel cathode 99.96%min in port China 4
3.1.Asian Metal Copyright7 Philippine lateritic nickel ore 1.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 4
3.1.Asian Metal Copyright1.Asian Metal Copyright4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 5
3.1.5 Ferronickel 10%min EXW China 5
3.1.Asian Metal Copyright96%min in port China 15 8.Asian Metal Copyright6 Ferronickel 1.5%min EXW China 5
3.2 International Market Movements 5
3.2.Asian Metal Copyright64% MOM in Jul 9 5.Asian Metal Copyright1 Philippine lateritic nickel ore 1.3%min CIF China 5
3.2.Asian Metal Copyright1.Asian Metal Copyright2 Philippine lateritic nickel ore 1.8%min CIF China 6
4. Company News 6
4.1 MCC Ruimu New Energy raises nickel sulfate output 6
4.2 Jutai New Material reaches full production of nickel sulfate 6
4.3 Xinxin Mining sees first batch of electrowinning nickel go offline 6
4.4 Zhangjiagang United Copper to cut crude nickel sulfate output 6
4.5 Grand Green cuts battery grade nickel sulfate production 6
4.6 Maolian Technology to increase electrowinning nickel production 6
4.7 Nickel Industries' quarterly nickel production hits record high 6
4.8 GEM signs JV agreement to develop nickel laterite ore smelting project in Indonesia 7
4.9 Ronbay Technology gets approval to build precursor project in South Korea 7
4.10 Huayou Cobalt to jointly build nickel sulfate project in Indonesia 7
4.11 First Quantum Starts Output at Africa's Biggest Nickel Mine 7
5. Producers Statistics 7
5.1 Chinese refined nickel producers' operating rate records 70.11% in Jul 7
5.2 Chinese refined nickel producers' production up by 5.77% MOM in Jul 7
5.3 Chinese refined nickel producers' stocks up by 47.62% MOM in Jul 8
5.4 Chinese nickel sulfate producers' operation rate posts 58.22% in Jul 8
5.5 Chinese nickel sulfate producers' output down by 2.57% MOM in Jul 8
5.6 Chinese nickel sulfate producers' inventory up by 34.64% MOM in Jul 9
5.7 Chinese ferronickel producers' operating rate reports 46.66% in Jul 9
5.8 Chinese ferronickel producers' output up by 2.6% MOM in Jul 9
5.9 Chinese ferronickel producers' stocks down by 11.95% MOM in Jul 10
6. Import and Export Statistics 10
6.1 China's ferro-nickel import volume grew 38.62% YoY in Jun 2023 10
6.2 China's refined nickel (Co＞0.Asian Metal Copyright1 Chinese nickel cathode 99.Asian Metal Copyright005%) import volume grew 28.30% YoY in Jun 2023 11
6.3 China's nickel sulphate import volume increased 210.83% MoM in Jun 2023 12
6.4 China's refined nickel (Co＞0.Asian Metal Copyright2 International Market Movements 5 3.Asian Metal Copyright005%) export volume decreased 59.39% YoY in Jun 2023 13
6.5 China's nickel concentrate import volume grew 41.55% MoM in Jun 2023 14
7. Relevant Industry Movements 15
7.1 NCM and power battery market 15
7.2 Stainless steel market 15
8. Market Outlook for Next Month 15
8.1 Nickel cathode 99.96%min EXW China 15
8.2 Norilsk nickel cathode 99.96%min in port China 15
8.3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 15
8.4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 15
8.5 Ferronickel 10%min EXW China 15
8.6 Ferronickel 1.5%min EXW China 15
8.7 Philippine lateritic nickel ore 1.3%min CIF China 15
8.8 Philippine lateritic nickel ore 1.8%min CIF China 15


.Asian Metal Copyright5 China's nickel concentrate import volume grew 41Asian Metal Copyright