Monthly Nickel Market Report Sep 2023

Content

1. Market Highlights 4
2. Economy and Policy 4
2.1 MEE releases Action Plan for Comprehensive Control of Air Pollution in Autumn and Winter of 2023-2024 (Draft for Comments) 4
2.2 Indonesia will not approve any new mining quotas for 2023 4
2.3 Indonesia extends validity of mining production plans to three years 4
2.4 Shanxi delegates transfer and registration of exploration rights for mineral species 4
2.5 Antofagasta loses bid to revive Minnesota copper-nickel project 4
3. Market Movement 4
3.1 Chinese Market Movements 4
3.1.Asian Metal Copyright1 Chinese nickel cathode 99.Asian Metal Copyright1 Chinese nickel cathode 99.96%min EXW China 4
3.1.Asian Metal Copyright95% YoY in Aug 2023 12 6.Asian Metal Copyright2 Norilsk nickel cathode 99.96%min in port China 5
3.1.Asian Metal Copyright6 Changjiang Energy Technology to resume battery grade nickel sulfate production 7 5.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 5
3.1.Asian Metal Copyright37% YoY in Aug 2023 14 7.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 China's nickel sulphate import volume increased 459.Asian Metal Copyright6 Ferronickel 1.5%min EXW China 6
3.2 International Market Movements 6
3.2.Asian Metal Copyright6 Chinese nickel sulfate producers' inventory down by 10.Asian Metal Copyright1 Philippine lateritic nickel ore 1.3%min CIF China 6
3.2.Asian Metal Copyright1.Asian Metal Copyright2 Philippine lateritic nickel ore 1.8%min CIF China 6
4. Company News 6
4.1 Amer to build precursor and cathode materials project in Shaoxing Binhai New Area 6
4.2 Copper Lake updates mineral resources for Norton Lake nickel-copper-cobalt project 6
4.3 Golden Tiger cuts battery grade nickel sulfate production 7
4.4 Zhangjiagang United Copper maintains battery grade nickel sulfate production equipment 7
4.5 Century Tsingshan Nickel overhauls ferronickel production equipment 7
4.6 Changjiang Energy Technology to resume battery grade nickel sulfate production 7
5. Producers Statistics 7
5.1 Chinese refined nickel producers' operating rate records 74.05% in Sep 7
5.2 Chinese refined nickel producers' production up by 43.69% MOM in Sep 7
5.3 Chinese refined nickel producers' stocks down by 0.28% MOM in Sep 7
5.4 Chinese nickel sulfate producers' operation rate posts 54.47% in Sep 8
5.5 Chinese nickel sulfate producers' output down by 4.07% MOM in Sep 8
5.6 Chinese nickel sulfate producers' inventory down by 10.88% MOM in Sep 8
5.7 Chinese ferronickel producers' operating rate reports 47.24% in Sep 9
5.8 Chinese ferronickel producers' output down by 1.63% MOM in Sep 9
5.9 Chinese ferronickel producers' stocks down by 19.77% MOM in Sep 10
6. Import and Export Statistics 10
6.1 China's ferro-nickel import volume grew 45.59% YoY in Aug 2023 10
6.2 China's refined nickel (Co＞0.Asian Metal Copyright3 Indonesia extends validity of mining production plans to three years 4 2.Asian Metal Copyright005%) import volume fell 49.10% YoY in Aug 2023 11
6.3 China's nickel sulphate import volume increased 459.95% YoY in Aug 2023 12
6.4 China's refined nickel (Co＞0.Asian Metal Copyright5%min EXW China 15 8.Asian Metal Copyright005%) export volume increased 160.71% MoM in Aug 2023 13
6.5 China's nickel concentrate import volume rose 27.37% YoY in Aug 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 Copyright3%min CIF China 15 8Asian Metal Copyright