Monthly Nickel Market Report Apr 2023

Content

1. Market Highlights 4
2. Economy and Policy 4
2.1 FPX Nickel announces global generative exploration alliance with JOGMEC 4
2.2 EU Parliament approves world-first carbon border tax policy 4
2.3 INSG: Global nickel demand expected to reach 3.13Mt in 2023 4
3. Market Movement 4
3.1 Chinese Market Movements 4
3.1.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.Asian Metal Copyright1 Chinese nickel cathode 99.96%min EXW China 4
3.1.Asian Metal Copyright Producers Statistics 7 5.Asian Metal Copyright2 Norilsk nickel cathode 99.96%min in port China 4
3.1.Asian Metal Copyright96%min EXW China 15 8.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 5
3.1.Asian Metal Copyright5%min CIF China 5 3.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 Copyright3 Nickel sulfate Ni 22%min, Co 0.Asian Metal Copyright6 Ferronickel 1.5%min EXW China 5
3.2 International Market Movements 5
3.2.Asian Metal Copyright97% MOM in Apr 9 5.Asian Metal Copyright1 Philippine lateritic nickel ore 1.5%min CIF China 5
3.2.Asian Metal Copyright3%min CIF China 15 8.Asian Metal Copyright2 Philippine lateritic nickel ore 1.8%min CIF China 6
4. Company News 6
4.1 LG Chem joins hands with Huayou Cobalt to invest USD923 million in 50ktpy cathode precursor production project 6
4.2 Nickel Mines: Oracle nickel project starts NPI commercial sales 6
4.3 Zhangjiagang United Copper resumes crude nickel sulfate production 6
4.4 Vale and Huayou sign nickel agreement with Ford to invest in 120ktpy nickel project 6
4.5 Yantai Cash cuts battery grade nickel sulfate production 6
4.6 Jien Nickel conducts maintenance on nickel sulfate production lines 6
4.7 Chendong Recycling to stop one ferronickel furnace 7
4.8 Changsheng Ni Cr Material to cut high-grade ferronickel production 7
4.9 Tangshan Kaiyuan conducts maintenance on ferronickel production equipment 7
4.10 Beixin New Energy suspends nickel sulfate production 7
4.11 Grand Green Technology to put new electro-deposited nickel production line into production 7
4.12 Xi'en New Materials to suspend nickel sulfate production 7
5. Producers Statistics 7
5.1 Chinese refined nickel producers' operating rate records 67.76% in Apr 7
5.2 Chinese refined nickel producers' production up by 1.17% MOM in Apr 7
5.3 Chinese refined nickel producers' stocks up by 24.28% MOM in Apr 8
5.4 Chinese nickel sulfate producers' operation rate posts 41.89% in Apr 8
5.5 Chinese nickel sulfate producers' output down by 19.97% MOM in Apr 8
5.6 Chinese nickel sulfate producers' inventory down by 9.97% MOM in Apr 9
5.7 Chinese ferronickel producers' operating rate reports 45.1% in Apr 9
5.8 Chinese ferronickel producers' output down by 7.16% MOM in Apr 9
5.9 Chinese ferronickel producers' stocks up by 14.12% MOM in Apr 10
6. Import and Export Statistics 10
6.1 China's ferro-nickel import volume grew 22.30% YoY in Mar 2023 10
6.2 China's refined nickel (Co≤0.Asian Metal Copyright89% in Apr 8 5.Asian Metal Copyright005%) import volume grew 33.48% MoM in Mar 2023 11
6.3 China's nickel sulphate import volume increased 64.69% YoY in Mar 2023 12
6.4 China's refined nickel (Co＞0.Asian Metal Copyright6 Ferronickel 1.Asian Metal Copyright005%) export volume decreased 63.28% MoM in Mar 2023 13
6.5 China's nickel concentrate import volume grew 42.87% MoM in Mar 2023 14
7. Relevant Industry Movements 14
7.1 NCM and power battery market 14
7.2 Stainless steel market 15
8. Market Outlook for Next Month 15
8.1 Nickel cathode 99.96%min EXW China 15
8.2 Norilsk nickel cathode 99.96%min in port China 15
8.3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 15
8.4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 15
8.5 Ferronickel 10%min EXW China 15
8.6 Ferronickel 1.5%min EXW China 15
8.7 Philippine lateritic nickel ore 1.3%min CIF China 15
8.8 Philippine lateritic nickel ore 1.8%min CIF China 15


.Asian Metal Copyright28% MOM in Apr 8 5Asian Metal Copyright