Nickel Market Report June 2015

Abstract 4
1. International market review 4
1.1 LME nickel prices drop considerably 4
1.2 Import price of lateritic nickel ore from Philippines hovers at low levels 5
2 Chinese domestic market review 5
2.1 Lateritic nickel ore prices hover at low levels 5
2.2 Nickel cathodes market continues to shoot down 6
2.3Ferronickel market continues to edge down 8
2.4 Nickel sulfate prices edges down considerably 10
3. Production data 11
3.1 Chinese nickel cathodes output up by 4.52% MOM in June 11
3.2 Chinese ferronickel output up by 3.59% MOM in June 13
4. Lateritic nickel ore stocks in China’s main ports in June 15
5. Import data analysis 15
5.1 Chinese nickel ore imports up by 5.4% MOM in May 15
5.2 Chinese refined nickel and nickel alloy imports up by 28.75% MOM in May 18
5.3 Chinese ferronickel imports down by 18.1% MOM in May 22
6. Company news 26
6.1 Yinyi Science and Technic Mine Metallurgy plans to produce 18,000t of nickel cathodes in 2015 26
6.2 PT ANTAM (Persero) Tbk plans to enlarge its capacity of ferronickel 27
6.3 Jinchuan Group's nickel cathodes outputs up by 12.2% MOM in June 27
6.4 Shandong Lingang Non-Ferrous Metal plans to start 200 series stainless steel production 27
6.5 Anshan Qifei Mining Industry halts high-grade ferronickel production at the end of May 27
6.6 Indonesia Modern Group plans to enlarge its capacity of ferronickel from the current 7,500 tonnes per year to 85,000 tonnes per year 27
6.8 Yunxi Group Yuanjiang Nickel Industry resums nickel cathodes production on June 4th 28
7. Related industry developments 28
7.1 Stainless steel scrap 28
7.2 300 series stainless steel 28
8. Outlook for July 28
8.1 Lateritic nickel ore 28
8.2 Nickel cathodes 29
8.3 Ferronickel 29
8.4 Nickel salts 29

Picture
Picture 1 LME nickel cash price chart in June 5
Picture 2 Prices for Chinese lateritic nickel ore 1.8% delivered-at-ports in June 6
Picture 3 Prices for nickel cathodes in June 7
Picture 4 Prices for nickel cathodes of Jinchuan brand on spot market in June 7
Picture 5 Prices for nickel of Norilsk brand on Chinese spot market in June 8
Picture 6 Prices for nickel of Inco brand on Chinese spot market in June 8
Picture 7 Prices for ferronickel 10%min in China in June 9
Picture 8 Prices for nickel sulfate from Jinchuan brand factory in June 10
Picture 9 Nickel sulfate prices from Jinchuan brand in June 11
Picture 10 Chinese nickel cathodes output in 2014-15 11
Picture 11 Nickel cathodes output in Gansu, Jilin, Sichuan, Xinjiang and Guangxi from 2014-2015 12
Picture 12 Chinese ferronickel output in 2014-15 13
Picture 13 Ferronickel outputs in June 14
Picture 14 Chinese nickel ore and concentrate imports in 2014-15 16
Picture 15 Chinese nickel ore and concentrate imports from the Philippines in 2014-15 16
Picture 16 Chinese refined nickel and nickel alloy imports in 2014-15 19
Picture 17 Chinese refined nickel imports from Russia, Canada and Japan in 2014-15 20
Picture 18 Chinese ferronickel imports in 2014-15 23
Picture 19 Chinese ferronickel imports from Indonesia, Columbia, Brazil and Japan from 2014-2015 23



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 June and July 9
Table 3 Nickel cathodes outputs in China in June 12
Table 4 Ferronickel outputs in June 14
Table 5 Lateritic nickel ore stocks on 3 July 2015 15
Table 6 Chinese lateritic nickel ore import origins in May 17
Table 7 Mainly Chinese nickel ore/concentrate importers in May 2015 17
Table 8 Chinese nickel ore sand and nickel concentrate imports in May 17
Table 9 Chinese refined nickel and nickel alloy import origins in June 19
Table 10 Mainly Chinese other un-wrought nickel cathode importers in May 2015 20
Table 11 Chinese unwrought non-alloy nickel import enterprises in May 20
Table 12 Chinese ferronickel import origins in May 2015 24
Table 13 Mainly Chinese ferronickel importers in May 2015 24
Table 14 Chinese ferronickel import enterprises in May 24

.Asian Metal Copyright Outlook for July 28 8Asian Metal Copyright