Nickel Market Report June 2016

Catalogue
Abstract 3
1 Company news 3
1.1 Huayou Cobalt stops producing nickel cathode 3
1.2 Liaoning Guorun starts producing low grade ferronickel 3
1.3 Jinchi Energy's ternary precursor output down by 20% in June 3
2 Domestic market review 3
2.1. Nickel cathode prices rebound gradually 3
2.2 Ferronickel prices lack upward momentum 2
2.3 Nickel sulfate prices move downwards due to pressure 3
2.4 Lateritic nickel ore prices move up slightly at ports 3
3 International market reviews 4
3.1 LME nickel prices fluctuate upwards 4
3.2 Price for Philippine lateritic nickel ore falls back slightly 4
4 Production and stocks data 5
4.1 China’s nickel cathode output down by 26% YOY in June 5
4.2 Chinese nickel sulfate output up by 12% MOM in June 6
4.3 China’s lateritic nickel ore stocks up by around 1.7% MOM in late June 6
5 Import data analysis 7
5.1 Chinese refined nickel and alloy imports down by 21.4% MOM in May 7
5.2 China imports on ferronickel down 17.5% MOM in May 8
5.3 Chinese lateritic nickel ore imports up by 125% MOM in May 10
5.4 China’s imports of intermediate products of hydrometallurgical nickel up by 13.4% MOM in May 11

Graph Catalogue
Graph 1 Jinchuan nickel cathode price in the spot market from May to June 2
Graph 2 Norilsk nickel cathode prices in the Chinese spot market from May to June 2
Graph 3 Inco nickel prices in the Chinese spot market from May to June 2
Graph 4 Chinese ferronickel 10%min prices from May to June 3
Graph 5 Chinese ferronickel 1.5% prices from May to June 3
Graph 6 Chinese nickel sulfate 21%min prices from May to June 3
Graph 7 Chinese nickel sulfate 22%min prices from May to June 3
Graph 8 Chinese lateritic nickel ore 1.8% prices in ports from May to June 4
Graph 9 Chinese lateritic nickel ore 1.5% prices in ports from May to June 4
Graph 10 LME nickel cash settlements from May to June 4
Graph 11 LME nickel stocks from May to June 4
Graph 12 Prices for Philippine lateritic nickel ore 1.5% on CIF China basis from May to June 5
Graph 13 Prices for Philippine lateritic nickel ore 1.8% on CIF China basis from May to June 5
Graph 14 China’s nickel cathode output by month from Jan. 2015 to Jun. 2016 5
Graph 15 China’s nickel cathode output by month and province from Jan. 2015 to Jun. 2016 5
Graph 16 Chinese nickel sulfate output by month from Jan. 2015 to Jun. 2016 6
Graph 17 China’s lateritic nickel ore stocks by month from Jan. 2015 to Jun. 2016 6
Graph 18 Lateritic nickel ore stocks held by producers and traders from Jan. 2015 to Jun. 2016 6
Graph 19 Monthly imports for refined nickel and nickel alloy in China by month from Jan. 2015 to May 2016 7
Graph 20 Monthly imports for refined nickel and nickel alloy in China by source country from Jan. 2015 to May 2016 7
Graph 21 China imports on ferronickel by month from Jan. 2015 to May 2016 9
Graph 22 China imports on ferronickel by country and month from Jan. 2015 to May 2016 9
Graph 23 Lateritic nickel ore imports by month in China from Jan. 2015 to May 2016 10
Graph 24 Imports of Philippine-origin lateritic nickel ore in China from Jan. 2015 to May 2016 10
Graph 25China’s imports of intermediate products of hydrometallurgical nickel by month from Jan. 2015 to May 2016 from Jan. 2015 to May 2016 11
Graph 26 China’s imports of intermediate products of hydrometallurgical nickel by country from Jan. 2015 to May 2016 12

Table Catalogue
Table 1 Imports of refined nickel during May in China 7
Table 2 Top ten refined nickel importers in May 2016 8
Table 3 China’s ferronickel imports in May 9
Table 4 Top five ferronickel importers in May 2016 9
Table 5 Top ten Chinese lateritic nickel ore importers in May 2016 10
Table 6 Imports of lateritic nickel ore during May in China 11
Table 7 Top five Chinese nickel intermediate product importers in May 12
.Asian Metal Copyright1 Chinese refined nickel and alloy imports down by 21Asian Metal Copyright