Nickel Market Report October 2012
2012-11-22 11:41:35 【Print】
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Introduction 5
1. Financial overview 5
1.1 CPI up by 1.9% and PPI down by 3.6% YOY in September 5
1.2 Chinese PMI picked up in October 6
2. International market review 7
2.1 Futures prices of crude oil downward in October 7
2.2 European economy remained depressed while US dollar index rebounded in concussion 8
2.3 More uncertainty expected in non-ferrous metals industry due to sluggish global economy 9
3. Global spot market review 10
3.1 Lateritic nickel ore market 10
3.2 Nickel cathodes market 13
3.3 Ferronickel market 16
3.4 Nickel sulfate market 19
4 Output in October 21
4.1 Nickel cathodes output 21
4.2 Ferronickel output in October in China 21
5 Customs data 22
5.1 Nickel ore import up by 3.83% in September MOM 22
5.2 Chinese refined nickel import down by 12.55% in September MOM 23
5.3 Top10 unrolled non-alloy nickel enterprises in China in September 23
5.4 Ferronickel import data in September in China 23
5.5 Chinese nickel sulfate import in September up 4.26% MOM 24
6. Nickel industry developments 25
6.1 Lateritic nickel ore industry developments 25
6.1.1 PT Central Omega Resources (DKFT) signed an agreement on Thursday with Asiazone Co Ltd, a subsidiary of Taiwan-based E United Group, for the creation of a joint venture in the nickel-smelting business. 25
6.1.2 Vale output in three quarter decreased by 19.8% 26
6.1.3 Talvivaara can’t reach the task of nickel output in 2012 26
6.1.4 Vale’ nickel plant in New Caledonia– VNC resumed production in Septmeber 26
6.2 Nickel cathodes industry developments 26
6.2.1 The Ramu project may start to produce nickel ore in end of this year or early next year. 26
6.2.2 Guangxi Yinyi Science and Technology Mining and Metallurgy Co., Ltd. started equipment overhaul 26
6.2.3 Vale’s nickel sales volume in first three quarter in 2012 is around 1,740,000t. 26
6.3 Ferronickel industrial developments 26
6.3.1 Colombia will renegotiate out-dated contract terms including royalty payments for BHPBilliton's Cerro Matoso and will keep cooperation until 2029. 26
6.3.2 Hanwang Group will start nickel smelt project with output 60,000tpm in Indonesia. 26
6.3.3 Tieling City Qinghe District Kaisheng Forging started ignition by rotary kiln. 26
6.3.4 Vale will suspend their Frood nickel ore in Canada. . 27
6.3.5 Indoferro started ferronickel production in Indonesia and the output may reach 250,000tpy in 2013. 27
7. Stainless steel industry developments 27
7.1 Stainless steel scrap 27
7.2 300 series stainless steel 27
8. Outlook for November 27
8.1 Lateritic nickel ore market outlook 27
8.2 Nickel cathodes market forecast 27
8.3 Ferronickel market outlook 28
8.4 Nickel salt market outlook 28
Picture
Picture 1 Chart of CPI and PPI in China during 2011-2012 6
Picture 2 Chinese PMI chart during 2011-2012 7
Picture 3 Nymax WTI prices chart 8
Picture 4 Chart of USDX tendency 9
Picture 5 Chinese lateritic nickel ore (nickel content of 1.8%) delivered-at-ports price trend in October: RMB/t 12
Picture 6 Nickel cathodes of Jinchuan brand factory price 14
Picture 7 Nickel cathodes of Jinchuan brand price in spot market 15
Picture 8 Nickel of Norilsk brand price in Chinese spot market 15
Picture 9 Nickel of Inco brand price in Chinese spot market 16
Picture 10 Ex works price trend of ferronickel 10%min in October in China: RMB/mtu 18
Picture 11 Ex works price trend of ferronickel 4-6%min in October in China: RMB/mtu 19
Picture 12 Ex works price trend of ferronickel 7-9%min in October in China: RMB/mtu 19
Picture 13 nickel sulfate price movement in October 20
Table
Table 1 Inventory quantity and vessel mooring situation 11
Table 2 nickel cathodes output in October in China .19
Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in September in China 20
Table 4 Top 10 unwrought non-alloy nickel import enterprises in September in China 21
Table 5 China top 10 ferronickel import enterprises review in September 22
1. Financial overview 5
1.1 CPI up by 1.9% and PPI down by 3.6% YOY in September 5
1.2 Chinese PMI picked up in October 6
2. International market review 7
2.1 Futures prices of crude oil downward in October 7
2.2 European economy remained depressed while US dollar index rebounded in concussion 8
2.3 More uncertainty expected in non-ferrous metals industry due to sluggish global economy 9
3. Global spot market review 10
3.1 Lateritic nickel ore market 10
3.2 Nickel cathodes market 13
3.3 Ferronickel market 16
3.4 Nickel sulfate market 19
4 Output in October 21
4.1 Nickel cathodes output 21
4.2 Ferronickel output in October in China 21
5 Customs data 22
5.1 Nickel ore import up by 3.83% in September MOM 22
5.2 Chinese refined nickel import down by 12.55% in September MOM 23
5.3 Top10 unrolled non-alloy nickel enterprises in China in September 23
5.4 Ferronickel import data in September in China 23
5.5 Chinese nickel sulfate import in September up 4.26% MOM 24
6. Nickel industry developments 25
6.1 Lateritic nickel ore industry developments 25
6.1.1 PT Central Omega Resources (DKFT) signed an agreement on Thursday with Asiazone Co Ltd, a subsidiary of Taiwan-based E United Group, for the creation of a joint venture in the nickel-smelting business. 25
6.1.2 Vale output in three quarter decreased by 19.8% 26
6.1.3 Talvivaara can’t reach the task of nickel output in 2012 26
6.1.4 Vale’ nickel plant in New Caledonia– VNC resumed production in Septmeber 26
6.2 Nickel cathodes industry developments 26
6.2.1 The Ramu project may start to produce nickel ore in end of this year or early next year. 26
6.2.2 Guangxi Yinyi Science and Technology Mining and Metallurgy Co., Ltd. started equipment overhaul 26
6.2.3 Vale’s nickel sales volume in first three quarter in 2012 is around 1,740,000t. 26
6.3 Ferronickel industrial developments 26
6.3.1 Colombia will renegotiate out-dated contract terms including royalty payments for BHPBilliton's Cerro Matoso and will keep cooperation until 2029. 26
6.3.2 Hanwang Group will start nickel smelt project with output 60,000tpm in Indonesia. 26
6.3.3 Tieling City Qinghe District Kaisheng Forging started ignition by rotary kiln. 26
6.3.4 Vale will suspend their Frood nickel ore in Canada. . 27
6.3.5 Indoferro started ferronickel production in Indonesia and the output may reach 250,000tpy in 2013. 27
7. Stainless steel industry developments 27
7.1 Stainless steel scrap 27
7.2 300 series stainless steel 27
8. Outlook for November 27
8.1 Lateritic nickel ore market outlook 27
8.2 Nickel cathodes market forecast 27
8.3 Ferronickel market outlook 28
8.4 Nickel salt market outlook 28
Picture
Picture 1 Chart of CPI and PPI in China during 2011-2012 6
Picture 2 Chinese PMI chart during 2011-2012 7
Picture 3 Nymax WTI prices chart 8
Picture 4 Chart of USDX tendency 9
Picture 5 Chinese lateritic nickel ore (nickel content of 1.8%) delivered-at-ports price trend in October: RMB/t 12
Picture 6 Nickel cathodes of Jinchuan brand factory price 14
Picture 7 Nickel cathodes of Jinchuan brand price in spot market 15
Picture 8 Nickel of Norilsk brand price in Chinese spot market 15
Picture 9 Nickel of Inco brand price in Chinese spot market 16
Picture 10 Ex works price trend of ferronickel 10%min in October in China: RMB/mtu 18
Picture 11 Ex works price trend of ferronickel 4-6%min in October in China: RMB/mtu 19
Picture 12 Ex works price trend of ferronickel 7-9%min in October in China: RMB/mtu 19
Picture 13 nickel sulfate price movement in October 20
Table
Table 1 Inventory quantity and vessel mooring situation 11
Table 2 nickel cathodes output in October in China .19
Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in September in China 20
Table 4 Top 10 unwrought non-alloy nickel import enterprises in September in China 21
Table 5 China top 10 ferronickel import enterprises review in September 22
