Nickel Market Report November 2012
2012-12-14 18:16:53 【Print】
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Introduction 5
1. Financial overview 5
1.1 CPI up by 1.7% and PPI down by 2.8% YOY in November 5
1.2 PMI in October rebounds in China 6
2. International market review 7
2.1 International crude futures slowly increase in November 7
2.2 Greek debt crises easing, US dollar index falling after a surge 8
2.3 Global liquidity hinders nonferrous the year-end rebound of nonferrous alloy 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 20
4.1 Nickel cathodes output 20
4.2 Ferronickel output in November in China 21
5 Customs data 22
5.1 Nickel ore import down by 11.14% in October MOM 22
5.2 Chinese refined nickel import up by 21.16% in October MOM 27
5.3 Top10 unrolled non-alloy nickel enterprises in China in October 27
5.4 Ferronickel import data in October in China 28
5.5 Chinese nickel sulfate import in September up 4.26% MOM 30
6. Nickel industry developments 31
6.1 Lateritic nickel ore industry developments 31
6.1.1 Ambatovy ‘s nickel of 99.8% output is around 2,370t in third quarter, and the production planned to increase further. 31
6.1.2 Ambatovy will ship out the first nickel ore around 40tonns. 31
6.1.3 Perth mineral exploration company’s Poseidon Nickel project approved by Colin Barnett MLA，Minister of Western Australia state government Development Bureau, and may restart to exploit Mt Windarra nickel ore. 31
6.1.4 Vale’ nickel plant in New Caledonia– VNC resumed production in Septmeber 31
6.2 Nickel cathodes industry developments 31
6.2.1 Norilsk’s output of nickel is around 77400t in third quarter, up by 3% compared with that in last year. 31
6.2.2 Talvivaara can’t reach the nickel output task in 2012. They closed to metal recover plant due to the gypsum leakage 31
6.2.3 Ni&Co Guorun New Material Co., Ltd will expand the production capacity to 1,200tpm next February after they finished their own power plant build, up from the current 600tpm. 31
6.2.4 Xstrata settled down the first produce line of Koniambo nickel smelt project in New Caledonia, and may start to produce in January 2013. 31
6.3 Ferronickel industrial developments 31
6.3.1 Guangdong Century Qingshan Nickel Industry started second furnace production, and the output is around 300tpd currently. 32
6.3.2 Qingdao Baolifeng Metallurgy Co., Ltd, suspended ferronickel 4-6% production and kept ferronickel 1.5-2.0% production. 32
7. Stainless steel industry developments 32
7.1 Stainless steel scrap 32
7.2 300 series stainless steel 32
8. Outlook for December 32
8.1 Lateritic nickel ore market outlook 32
8.2 Nickel cathodes market forecast 32
8.3 Ferronickel market outlook 33
8.4 Nickel salt market outlook 33
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 Crude future prices in US main contract market in December 8
Picture 4 Chart of USD Index 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 15
Picture 7 Nickel cathodes of Jinchuan brand price in spot market 15
Picture 8 Nickel of Norilsk brand price in Chinese spot market 16
Picture 9 Nickel of Inco brand price in Chinese spot market 16
Picture 10 Ex works price trend of ferronickel 10%min in November in China: RMB/mtu 18
Picture 11 Ex works price trend of ferronickel 4-6%min in November in China: RMB/mtu 19
Picture 12 Ex works price trend of ferronickel 7-9%min in November in China: RMB/mtu 19
Picture 13 nickel sulfate price movement in November 20
Table
Table 1 Inventory quantity and vessel mooring situation 11
Table 2 nickel cathodes output in November in China .21
Table 3 Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in October in China 22
Table 4: China Import statistics of nickel ore san and concentrate in October….23
Table 5 Top 10 unwrought non-alloy nickel import enterprises in October in China 28
Table 6China top 10 ferronickel import enterprises review in October 32
Table 7: China Import statistics of ferronickel in October……………………….33
Table 8 China top 10 nickel sulfate import enterprises review in October………35
1. Financial overview 5
1.1 CPI up by 1.7% and PPI down by 2.8% YOY in November 5
1.2 PMI in October rebounds in China 6
2. International market review 7
2.1 International crude futures slowly increase in November 7
2.2 Greek debt crises easing, US dollar index falling after a surge 8
2.3 Global liquidity hinders nonferrous the year-end rebound of nonferrous alloy 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 20
4.1 Nickel cathodes output 20
4.2 Ferronickel output in November in China 21
5 Customs data 22
5.1 Nickel ore import down by 11.14% in October MOM 22
5.2 Chinese refined nickel import up by 21.16% in October MOM 27
5.3 Top10 unrolled non-alloy nickel enterprises in China in October 27
5.4 Ferronickel import data in October in China 28
5.5 Chinese nickel sulfate import in September up 4.26% MOM 30
6. Nickel industry developments 31
6.1 Lateritic nickel ore industry developments 31
6.1.1 Ambatovy ‘s nickel of 99.8% output is around 2,370t in third quarter, and the production planned to increase further. 31
6.1.2 Ambatovy will ship out the first nickel ore around 40tonns. 31
6.1.3 Perth mineral exploration company’s Poseidon Nickel project approved by Colin Barnett MLA，Minister of Western Australia state government Development Bureau, and may restart to exploit Mt Windarra nickel ore. 31
6.1.4 Vale’ nickel plant in New Caledonia– VNC resumed production in Septmeber 31
6.2 Nickel cathodes industry developments 31
6.2.1 Norilsk’s output of nickel is around 77400t in third quarter, up by 3% compared with that in last year. 31
6.2.2 Talvivaara can’t reach the nickel output task in 2012. They closed to metal recover plant due to the gypsum leakage 31
6.2.3 Ni&Co Guorun New Material Co., Ltd will expand the production capacity to 1,200tpm next February after they finished their own power plant build, up from the current 600tpm. 31
6.2.4 Xstrata settled down the first produce line of Koniambo nickel smelt project in New Caledonia, and may start to produce in January 2013. 31
6.3 Ferronickel industrial developments 31
6.3.1 Guangdong Century Qingshan Nickel Industry started second furnace production, and the output is around 300tpd currently. 32
6.3.2 Qingdao Baolifeng Metallurgy Co., Ltd, suspended ferronickel 4-6% production and kept ferronickel 1.5-2.0% production. 32
7. Stainless steel industry developments 32
7.1 Stainless steel scrap 32
7.2 300 series stainless steel 32
8. Outlook for December 32
8.1 Lateritic nickel ore market outlook 32
8.2 Nickel cathodes market forecast 32
8.3 Ferronickel market outlook 33
8.4 Nickel salt market outlook 33
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 Crude future prices in US main contract market in December 8
Picture 4 Chart of USD Index 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 15
Picture 7 Nickel cathodes of Jinchuan brand price in spot market 15
Picture 8 Nickel of Norilsk brand price in Chinese spot market 16
Picture 9 Nickel of Inco brand price in Chinese spot market 16
Picture 10 Ex works price trend of ferronickel 10%min in November in China: RMB/mtu 18
Picture 11 Ex works price trend of ferronickel 4-6%min in November in China: RMB/mtu 19
Picture 12 Ex works price trend of ferronickel 7-9%min in November in China: RMB/mtu 19
Picture 13 nickel sulfate price movement in November 20
Table
Table 1 Inventory quantity and vessel mooring situation 11
Table 2 nickel cathodes output in November in China .21
Table 3 Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in October in China 22
Table 4: China Import statistics of nickel ore san and concentrate in October….23
Table 5 Top 10 unwrought non-alloy nickel import enterprises in October in China 28
Table 6China top 10 ferronickel import enterprises review in October 32
Table 7: China Import statistics of ferronickel in October……………………….33
Table 8 China top 10 nickel sulfate import enterprises review in October………35
