Nickel Market Report February 2013
2013-03-15 12:00:21 【Print】
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Introduction 5
1. Financial overview 5
1.1 CIP up by 1.2, PPI down by 1.6% y-o-y in January 5
1.2 Chinese PMT above the critical point in the fifth consecutive month 6
2. International market review 7
2.1 International crude oil futures price hikes and drop in February 7
2.2 European debt remains in a shadow US dollar index sees strong rebounds 8
2.3 Nonferrous metals prices to keep fluctuating with more global labile factors 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 18
4 Output in February 20
4.1 Nickel cathodes output 20
4.2 Ferronickel output in January in China 21
5 Customs data 21
5.1 Chinese nickel ore import down by 34.08% in January MOM 21
5.2 Chinese refined nickel import up by 33.34% in January month on month 22
5.3 Top10 unrolled non-alloy nickel enterprises in China in January 22
5.4 Chinese ferronickel import up by 15.34% in January MOM 27
5.5 Chinese nickel sulfate import data none in January 30
6. Nickel industry developments 30
6.1 Lateritic nickel ore industry developments 30
6.1.1 Ambatovy started to produce nickel ore and expressed to South Korea 30
6.2 Nickel cathodes industry developments 30
6.2.1 Norilsk Nickel’s output of nickel is around 300,340t in 2012, up by 2% compared with that in 2011. 30
6.2.2 PT Vale Indonesia indicated the output of nickel increased by 5.7% to 70,717t in 2012. 30
6.3 Ferronickel industrial developments 30
6.3.1 Henan Anyang Delongxing Nickel Industry Co., Ltd., halted operation of middle-grade ferronickel 30
6.3.2 Chongzhou Shuxing Electrometallurgy Co., Ltd., halted operation of high-grade ferronickel 31
6.3.3 Hanking send 3.1 hundred million to purchase Northeastern Lion in Sulawesi Indonesia. They will start nickel ore production in end of 2014 and will build a nickel plant in 2016. 31
6.3.4 Pinglu County Changhong High-Quality Steel Materials Co., Ltd plans to resume ferronickel production 31
7. Stainless steel industry developments 31
7.1 Stainless steel scrap 31
7.2 300 series stainless steel 32
8. Outlook for January 32
8.1 Lateritic nickel ore market outlook 32
8.2 Nickel cathodes market forecast 32
8.3 Ferronickel market outlook 32
8.4 Nickel salt market outlook 33
Picture
Picture 1 Chart of CPI and PPI in China during 2011-2013 6
Picture 2 Chinese PMI chart during 2011-2013 7
Picture 3 Futures price of US crude oil in dominant contracts in February 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 January: 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 China: RMB/mtu 18
Picture 11 Ex works price trend of ferronickel 4-6%min in China: RMB/mtu 18
Picture 12 Ex works price trend of ferronickel 7-9%min in China: RMB/mtu 18
Picture 13 nickel sulfate price movement in November 20
Table
Table 1 Inventory quantity and vessel mooring situation 10
Table 2 nickel cathodes output in February in China .21
Table 3 Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in January in China 22
Table 4: China Import statistics of nickel ore san and concentrate in January….23
Table 5 Top 10 unwrought non-alloy nickel import enterprises in January in China 28
Table 6China top 10 ferronickel import enterprises review in January 32
Table 7: China Import statistics of ferronickel in January……………………….33
Table 8 China top 10 nickel sulfate import enterprises review in January………35
1. Financial overview 5
1.1 CIP up by 1.2, PPI down by 1.6% y-o-y in January 5
1.2 Chinese PMT above the critical point in the fifth consecutive month 6
2. International market review 7
2.1 International crude oil futures price hikes and drop in February 7
2.2 European debt remains in a shadow US dollar index sees strong rebounds 8
2.3 Nonferrous metals prices to keep fluctuating with more global labile factors 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 18
4 Output in February 20
4.1 Nickel cathodes output 20
4.2 Ferronickel output in January in China 21
5 Customs data 21
5.1 Chinese nickel ore import down by 34.08% in January MOM 21
5.2 Chinese refined nickel import up by 33.34% in January month on month 22
5.3 Top10 unrolled non-alloy nickel enterprises in China in January 22
5.4 Chinese ferronickel import up by 15.34% in January MOM 27
5.5 Chinese nickel sulfate import data none in January 30
6. Nickel industry developments 30
6.1 Lateritic nickel ore industry developments 30
6.1.1 Ambatovy started to produce nickel ore and expressed to South Korea 30
6.2 Nickel cathodes industry developments 30
6.2.1 Norilsk Nickel’s output of nickel is around 300,340t in 2012, up by 2% compared with that in 2011. 30
6.2.2 PT Vale Indonesia indicated the output of nickel increased by 5.7% to 70,717t in 2012. 30
6.3 Ferronickel industrial developments 30
6.3.1 Henan Anyang Delongxing Nickel Industry Co., Ltd., halted operation of middle-grade ferronickel 30
6.3.2 Chongzhou Shuxing Electrometallurgy Co., Ltd., halted operation of high-grade ferronickel 31
6.3.3 Hanking send 3.1 hundred million to purchase Northeastern Lion in Sulawesi Indonesia. They will start nickel ore production in end of 2014 and will build a nickel plant in 2016. 31
6.3.4 Pinglu County Changhong High-Quality Steel Materials Co., Ltd plans to resume ferronickel production 31
7. Stainless steel industry developments 31
7.1 Stainless steel scrap 31
7.2 300 series stainless steel 32
8. Outlook for January 32
8.1 Lateritic nickel ore market outlook 32
8.2 Nickel cathodes market forecast 32
8.3 Ferronickel market outlook 32
8.4 Nickel salt market outlook 33
Picture
Picture 1 Chart of CPI and PPI in China during 2011-2013 6
Picture 2 Chinese PMI chart during 2011-2013 7
Picture 3 Futures price of US crude oil in dominant contracts in February 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 January: 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 China: RMB/mtu 18
Picture 11 Ex works price trend of ferronickel 4-6%min in China: RMB/mtu 18
Picture 12 Ex works price trend of ferronickel 7-9%min in China: RMB/mtu 18
Picture 13 nickel sulfate price movement in November 20
Table
Table 1 Inventory quantity and vessel mooring situation 10
Table 2 nickel cathodes output in February in China .21
Table 3 Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in January in China 22
Table 4: China Import statistics of nickel ore san and concentrate in January….23
Table 5 Top 10 unwrought non-alloy nickel import enterprises in January in China 28
Table 6China top 10 ferronickel import enterprises review in January 32
Table 7: China Import statistics of ferronickel in January……………………….33
Table 8 China top 10 nickel sulfate import enterprises review in January………35
