Monthly Nickel Market Report Jan 2019
2019-02-14 18:04:43 【Print】
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1. Market Highlights
In early January 2019, nickel cathode prices in the Chinese market declined to the lowest level in 2018. After the New Year's Day, downstream stainless steel mills started to refill stocks for the Spring Festival . Meanwhile, LME nickel stocks declined to the lowest level over the past years and LME nickel prices went up continuously, stimulating prices for Chinese brands of nickel cathode and Norilsk nickel cathode to increase in the Chinese market . By late January, downstream stainless steel mills continued to make replenishments for nickel cathode . In addition, the supply of high grade ferronickel was tight . Although downstream stainless steel mills kept purchasing, there were still some downstream consumers who held limited stocks . Against the backdrop of increased prices for nickel cathode, ferronickel prices rose in January.
In early January, most downstream NCM precursor producers finished refilling stocks for the Spring Festival holiday and only several consumers kept purchasing in late January. However, as Chinese battery grade nickel cathode spot market saw tight supply, prices for battery grade nickel sulfate rose after mid-January.
In early January 2019, nickel cathode prices in the Chinese market declined to the lowest level in 2018. After the New Year's Day, downstream stainless steel mills started to refill stocks for the Spring Festival . Meanwhile, LME nickel stocks declined to the lowest level over the past years and LME nickel prices went up continuously, stimulating prices for Chinese brands of nickel cathode and Norilsk nickel cathode to increase in the Chinese market . By late January, downstream stainless steel mills continued to make replenishments for nickel cathode . In addition, the supply of high grade ferronickel was tight . Although downstream stainless steel mills kept purchasing, there were still some downstream consumers who held limited stocks . Against the backdrop of increased prices for nickel cathode, ferronickel prices rose in January.
In early January, most downstream NCM precursor producers finished refilling stocks for the Spring Festival holiday and only several consumers kept purchasing in late January. However, as Chinese battery grade nickel cathode spot market saw tight supply, prices for battery grade nickel sulfate rose after mid-January.