Monthly Nickel Market Report Nov 2021

Content
1. Market Highlights 3
2. Economy and Policy 3
2.1 Global Ferronickel to pursue steel mill project on its own 3
2.2 MEE: one-size-fit-all policy prohibited in autumn-winter air pollution prevention and control 4
2.3 NDRC issues notice on further deepening market-oriented reform of on-grid price of coal-fired power generation 4
2.4 WBMS: Global apparent demand for refined nickel exceeds production 4
3. Market Movement 4
3.1 Chinese Market Movements 4
3.1.Asian Metal Copyright4 Nickel sulfate Ni 22%min, Co 0.Asian Metal Copyright1 Chinese nickel cathode 99.96%min EXW China 4
3.1.Asian Metal Copyright1 Chengtun Mining to further develop high grade nickel matte, nickel sulfate, nickel powder and other battery material projects 6 4.Asian Metal Copyright2 Norilsk nickel cathode 99.96%min in port China 4
3.1.Asian Metal Copyright2.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 5
3.1.Asian Metal Copyright96%min EXW China 11 8.Asian Metal Copyright4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 5
3.1.Asian Metal Copyright8 Ferronickel 1.Asian Metal Copyright5 Philippine lateritic nickel ore 1.5%min prices in port China 5
3.1.Asian Metal Copyright8%min CIF China 12 .Asian Metal Copyright6 Philippine lateritic nickel ore 1.8%min in port China 5
3.1.7 Ferronickel 10%min EXW China 6
3.1.Asian Metal Copyright5%min EXW China 6 3.Asian Metal Copyright8 Ferronickel 1.5%min EXW China 6
3.2 International Market Movements 6
3.2.Asian Metal Copyright5 Ferronickel 10%min EXW China 12 8.Asian Metal Copyright1 Philippine lateritic nickel ore 1.5%min CIF China 6
3.2.Asian Metal Copyright1 Chinese refined nickel producers' data in Oct 8 5.Asian Metal Copyright2 Philippine lateritic nickel ore 1.8%min CIF China 6
4. Producers Statistics 6
4.1 Chengtun Mining to further develop high grade nickel matte, nickel sulfate, nickel powder and other battery material projects 6
4.2 Jinchuan Group suspends Ni9997 think nickel plate production line 7
4.3 Huabo New Material Technology starts trial operation of used Li-battery recycling project 7
4.4 Nantong Beixin increases nickel sulfate output 7
4.5 Tianjin Maolian takes technical upgrade for nickel sulfate system 7
4.6 CNGR to sign new nickel laterite ore smelting contract to produce 60,000tpy of nickel 7
4.7 Inner Mongolia Heyi NiCr Materials maintains one ferronickel production line 7
4.8 Liaoning Treasure Platinum halts ferronickel production 7
4.9 Tangshan Kaiyuan to ramp up ferronickel production 8
4.10 Huayou Cobalt and Ronbay Technology sign strategic cooperation agreement on nickel and cobalt resources 8
4.11 Weiming Group to build joint venture high grade matte nickel project for USD400 million 8
5. Producers Statistics 8
5.1 Chinese refined nickel producers' data in Oct 8
5.2 Chinese nickel sulfate producers' data in Nov 8
5.3 Chinese ferronickel producers' data in Nov 9
6. Import and Export Statistics 11
6.1 China's ferro-nickel import volume increased 15.26% YoY in Oct 2021 11
6.2 China's nickel sulphate import volume rose 4,563.21% YoY in Oct 2021 11
7. Industry Movements 11
7.1 NCM and power battery market 11
7.2 Stainless steel market 11
8. Market Outlook for Next Month 11
8.1 Nickel cathode 99.96%min EXW China 11
8.2 Norilsk nickel cathode 99.96%min in port China 12
8.3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 12
8.4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 12
8.5 Ferronickel 10%min EXW China 12
8.6 Ferronickel 1.5%min EXW China 12
8.7 Philippine lateritic nickel ore 1.5%min in port China 12
8.8 Philippine lateritic nickel ore 1.8%min in port China 12
8.9 Philippine lateritic nickel ore 1.5%min CIF China 12
8.10 Philippine lateritic nickel ore 1.8%min CIF China 12


.Asian Metal Copyright2 International Market Movements 6 3Asian Metal Copyright