Monthly Nickel Market Report Jan 2023

Content

1. Market Highlights 4
2. Economy and Policy 4
2.1 China to launch new round of domestic strategic minerals prospecting 4
2.2 Indonesia formulates detailed plans to limit development of nickel smelters 4
3. Market Movement 4
3.1 Chinese Market Movements 4
3.1.Asian Metal Copyright5%min EXW China 14 8.Asian Metal Copyright1 Chinese nickel cathode 99.96%min EXW China 4
3.1.Asian Metal Copyright96%min EXW China 4 3.Asian Metal Copyright2 Norilsk nickel cathode 99.96%min in port China 4
3.1.Asian Metal Copyright Import and Export Statistics 9 6.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 4
3.1.Asian Metal Copyright2.Asian Metal Copyright4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 5
3.1.5 Ferronickel 10%min EXW China 5
3.1.Asian Metal Copyright50% YoY in Dec 2022 9 6.Asian Metal Copyright6 Ferronickel 1.5%min EXW China 5
3.2 International Market Movements 5
3.2.Asian Metal Copyright5%min CIF China 5 3.Asian Metal Copyright1 Philippine lateritic nickel ore 1.5%min CIF China 5
3.2.Asian Metal Copyright6 Chinese nickel sulfate producers' inventory up by 30.Asian Metal Copyright2 Philippine lateritic nickel ore 1.8%min CIF China 5
4. Company News 6
4.1 GEM decreases nickel sulfate production 6
4.2 GEM: QMB New Energy Materials project (phase one) in Indonesia in production capacity ramp-up stage 6
4.3 Lygen: HPAL project's annual nickel metal output exceeds designed production capacity 6
4.4 Daye Nonferrous decreases nickel sulfate production 6
4.5 JCU to suspend nickel sulfate production for Spring Festival 6
4.6 Tsingshan Group puts electrowinning nickel project into operation 6
4.7 ANTAM plans to start operation in H2 this year with annual output of 13,500 tons of ferronickel 6
4.8 Tsingshan Group puts electrowinning nickel project into operation 6
5. Producers Statistics 6
5.1 Chinese refined nickel producers' operating rate records 59.97% in Jan 6
5.2 Chinese refined nickel producers' production up by 1.65% MOM in Jan 7
5.3 Chinese refined nickel producers' stocks up by 15.24% MOM in Jan 7
5.4 Chinese nickel sulfate producers' operation rate down by 18.82% MOM in Jan 7
5.5 Chinese nickel sulfate producers' output down by 18.81% MOM in Jan 7
5.6 Chinese nickel sulfate producers' inventory up by 30.14% MOM in Jan 8
5.7 Chinese ferronickel producers' operating rate posts 41.93% in Jan 8
5.8 Chinese ferronickel producers' output down by 9.27% MOM in Jan 9
5.9 Chinese ferronickel producers' stocks up by 25.09% MOM in Jan 9
6. Import and Export Statistics 9
6.1 China's ferro-nickel import volume increased 84.50% YoY in Dec 2022 9
6.2 China's refined nickel (Co≤0.Asian Metal Copyright8 Philippine lateritic nickel ore 1.Asian Metal Copyright005%) import volume decreased 49.17% YoY in Dec 2022 10
6.3 China's nickel sulphate import volume rose 53.75% YoY in Dec 2022 11
6.4 China's refined nickel (Co＞0.Asian Metal Copyright Import and Export Statistics 9 6.Asian Metal Copyright005%) export volume rose 162.36% YoY in Dec 2022 12
6.5 China's nickel concentrate import volume grew 44.03% YoY in Dec 2022 13
7. Relevant Industry Movements 14
7.1 NCM and power battery market 14
7.2 Stainless steel market 14
8. Market Outlook for Next Month 14
8.1 Nickel cathode 99.96%min EXW China 14
8.2 Norilsk nickel cathode 99.96%min in port China 14
8.3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 14
8.4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 14
8.5 Ferronickel 10%min EXW China 14
8.6 Ferronickel 1.5%min EXW China 14
8.7 Philippine lateritic nickel ore 1.5%min CIF China 14
8.8 Philippine lateritic nickel ore 1.8%min CIF China 14


.Asian Metal Copyright96%min in port China 14 8Asian Metal Copyright