Nickel market report September 2017

Contents

Abstract 1
1 Company news 1
1.1 Tianyi Metal closes ferronickel production 1
1.2 Funing Ferronickel Technology closes ferronickel production 1
1.3 Meishan Shunying Material plans to resume NCM precursor production in late August 1
2 Chinese market review 2
2.1 Prices for nickel cathodes goes up sharply 2
2.2 Ferronickel prices up first then down 2
2.3 Prices for nickel sulfate move down 3
2.4 Lateritic nickel ore prices retreats 4
3 International market review 4
3.1 LME nickel prices up further 4
3.2 Prices for Philippine lateritic nickel ore moves down 4
4 Production and stocks data 5
4.1 Chinese nickel cathode output down by 15.2% MOM in September 5
4.2 Chinese ferronickel output down by 20.9% MOM in September 5
4.3 Chinese nickel sulfate output up by 4.3% MOM in September 6
4.4 China’s lateritic nickel ore stocks down by 19.3% MOM in September 7
5 Analysis on Import and export data 7
5.1 China’s refined nickel and nickel alloy imports down by 16.9% MOM in August 2017 7
5.2 China’s ferronickel imports down by 30.8% MOM in August 8
5.3 China’s imports for lateritic nickel ore up by 26.5% MOM in August 2017 10
5.4 China’s nickel hydrometallurgy intermediates imports down by 4% MOM in July 11
6 Market outlook 12
6.1 Nickel cathode 12
6.1 Nickel cathode 12
6.2 Ferronickel 12
6.3 Nickel salt 12
6.4 Lateritic nickel ore 12


GRAPHS

Graph 1 Jinchuan nickel cathode price in the Chinese spot market from Jul to Sep (RMB/t) 2
Graph 2 Norilsk nickel cathode prices in the Chinese spot market from Jul to Sep (RMB/t) 2
Graph 3 Inco nickel prices in the Chinese spot market from Jul to Sep (RMB/t) 2
Graph 4 Delivered-to-plants prices for Chinese ferronickel 10%min from Jul to Sep (RMB/mtu) 3
Graph 5 Chinese ferronickel 1.5% EXW prices from Jul to Sep (RMB/t) 3
Graph 6 Chinese battery grade nickel sulfate prices from Jul to Sep (RMB/t) 3
Graph 7 Chinese NCM 523 precursor prices from Jul to Sep (RMB/t) 3
Graph 8 Chinese electroplating grade nickel sulfate prices from Jul to Sep (RMB/t) 3
Graph 9 Chinese lateritic nickel ore 1.8%min prices in ports from Jul to Sep (RMB/t) 4
Graph 10 Chinese lateritic nickel ore 1.5%min in ports from J Jul to Aug (RMB/t) 4
Graph 11 LME nickel prices from Jul to Sep (USD/t) 4
Graph 12 Stocks for LME nickel from Jul to Sep (t) 4
Graph 13 CIF Prices for Philippine origin lateritic nickel ore 1.5% in China from Jul to Sep (USD/t) 4
Graph 14 CIF Prices for Philippine origin lateritic nickel ore 1.8% in China from Jul to Sep (USD/t) 5
Graph 19 Lateritic nickel ore stocks in China from Jan 2016 to Aug 2017 (kt) 7
Graph 20 China’s monthly imports for refined nickel from Jan 2016 to Aug 2017 (t) 7
Graph 21 China’s monthly imports for refined nickel by country from Jan 2016 to Aug 2017 (t) 7
Graph 23 China’s monthly imports for Philippines origin lateritic nickel ore from Jan 2016 to Aug 2017 (10kt) 10
Graph 24 China’s monthly imports for nickel hydrometallurgy intermediates from Jan 2016 to Aug 2017 (t) 11

Tables

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









.Asian Metal Copyright8%min prices in ports from Jul to Sep RMBt 4 Graph 10 Chinese lateritic nickel ore 1Asian Metal Copyright