Nickel Market Report May 2015

Abstract 4
1. International market review 4
1.1 LME nickel prices drop considerably 4
1.2 Import prices of lateritic nickel ore from Philippines hovers 5
2. Chinese domestic market review 5
2.1 Lateritic nickel ore prices hover at low levels 5
2.2 Nickel cathodes market hovers at narrow arrange 6
2.3 Ferronickel market hovers at low levels 8
2.4 Nickel sulfate prices hovers at narrows range 10
3. Production data 11
3.1 Chinese nickel cathodes output down by 3.17% MOM in May 11
3.2 Chinese ferronickel output up by 38.62% MOM in May 13
4. Lateritic nickel ore stocks in China’s main ports in May 14
5. Import data analysis 15
5.1 Chinese nickel ore imports up by 77.8% MOM in April 15
5.2 Chinese refined nickel and nickel alloy imports up by 215.79% MOM in April 20
5.3 Chinese ferronickel imports up by 93.61% MOM in April 24
6. Company news 28
6.1 Huaze Nickel & Cobalt suspends nickel cathodes production in April. 28
6.2 Jinlin Trading plans to start ferronickel production in Indonesia in July. 28
6.3 Baoli Group and Cakra Mineral ’s ferronickel plant plans to start ferronickel production in early 2016 in Indonesia. 28
6.4 Huadi Nikel Alloy in south Sulawesi plans to start ferronickel production at the end of 2015 29
6.5 Yuanjiang Nickel Industry plans to resume nickel cathodes production in early June 29
6.6 Haihe Industry plans to resume ferronickel production in early July 29
7. Related industry developments 29
7.1 Stainless steel scrap 29
7.2 300 series stainless steel 30
8. Outlook for June 30
8.1 Lateritic nickel ore 30
8.2 Nickel cathodes 30
8.3 Ferronickel 30
8.4 Nickel salts 31

Picture
Picture 1 LME nickel cash price chart in May 4
Picture 2 Prices for Chinese lateritic nickel ore 1.8% delivered-at-ports in May 6
Picture 3 Prices for nickel cathodes in May 7
Picture 4 Prices for nickel cathodes of Jinchuan brand on spot market in May 7
Picture 5 Prices for nickel of Norilsk brand on Chinese spot market in May 8
Picture 6 Prices for Nickel of Inco brand on Chinese spot market in May 8
Picture 7 Prices for ferronickel 10%min in China in May 10
Picture 8 Prices for nickel sulfate from Jinchuan brand factory in May 11
Picture 9 Nickel sulfate prices from Jinchuan brand in May 11
Picture 10 Demonstrates Chinese nickel cathodes output from 2014-2015: 12
Picture 11 Demonstrates Chinese ferronickel output from 2014-2015: 13
Picture 12 Ferronickel outputs in May 14
Picture 13 Demonstrates Chinese nickel ore and concentrate imports from 2014-2015: 15
Picture 14 Demonstrates Chinese nickel ore and concentrate imports from the Philippines from 2014-2015: 16
Picture 15 Demonstrates Chinese refined nickel and nickel alloy imports from 2014-2015 20
Picture 16 Demonstrates Chinese ferronickel imports from 2014-2015: 25



Table

Table 1 Lateritic nickel ore market import prices in China 5
Table 2 Ferronickel 10%min purchase prices from some major stainless steel plants in May and June 9
Table 3 Nickel cathodes outputs in China in May 12
Table 4 Ferronickel outputs in May 13
Table 5 Lateritic nickel ore stocks on 29 May 2015 14
Table 6 Chinese lateritic nickel ore import origins in April 16
Table 7 Top ten Chinese nickel ore/concentrate importers in April 2015 16
Table 8 Chinese nickel ore sand and nickel concentrate imports in April 17
Table 9 Chinese refined nickel and nickel alloy import origins in May 21
Table 10 Top ten Chinese other un-wrought nickel cathode importers in April 2015 21
Table11 Chinese unwrought non-alloy nickel import enterprises in April 20
Table 12 Chinese ferronickel import origins in April 2015 23
Table 13 Top ten Chinese ferronickel importers in April 2015 23
Table 14 Chinese ferronickel import enterprises in April 24

.Asian Metal Copyright61% MOM in April 24 6Asian Metal Copyright