Monthly Nickel Market Report Dec 2024

Contents
1. Market Highlights 3
2. Economy and Policy 3
2.1 Russia increases export quotas for scrap metals outside EAEU 3
2.2 DOE to invest in key mineral technology projects 3
3. Market Movement 3
3.1 Chinese Market Movements 3
3.1.Asian Metal Copyright005% export volume increased 57.Asian Metal Copyright1 Chinese nickel cathode 99.96%min EXW China 3
3.1.Asian Metal Copyright43% MoM in December 6 5.Asian Metal Copyright2 Norilsk nickel cathode 99.96%min in port China 3
3.1.Asian Metal Copyright81%% in December 6 5.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 4
3.1.Asian Metal Copyright4 China's refined nickel Co＞0.Asian Metal Copyright4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 4
3.1.5 Ferronickel 10%min EXW China 4
3.2 International Market Movements 4
3.2.Asian Metal Copyright1 Chinese nickel cathode 99.Asian Metal Copyright1 Philippine lateritic nickel ore 1.3%min CIF China 4
4. Company News 5
4.1 Vale Base Metals completes Voisey's Bay transition to underground mining 5
4.2 Qisheng Metal increases electrowinning nickel production 5
4.3 Changsheng Ni Cr Material to halt ferronickel production 5
4.4 Jiana Energy to see decrease in nickel sulfate production 5
4.5 Grand Green cuts nickel sulfate production 5
4.6 Shunying Power to cut nickel sulfate production 5
4.7 Xingnie New Materials to increase nickel sulfate production 5
4.8 Yinyi Advanced Material suspends nickel sulfate production 5
4.9 Huiran Industry cuts ferronickel production 5
4.10 Heyi Ni-Cr Composite Materials cuts ferronickel production 6
5. Producers Statistics 6
5.1 Chinese refined nickel producers' operating rate records 74.24% in December 6
5.2 Chinese refined nickel producers' production up by about 0.43% MoM in December 6
5.3 Chinese refined nickel producers' stocks up by about 5.96%% MoM in December 6
5.4 Chinese nickel sulfate producers' operating rate posts 43.81%% in December 6
5.5 1 Chinese nickel sulfate producers' output down by about 18.2% MoM in December 6
5.6 Chinese nickel sulfate producers' inventory up by about 8.77% MoM in December 7
5.7 Chinese ferronickel producers' operating rate reports 45.13% in December 7
5.8 Chinese ferronickel producers' output down by about 2.66% MoM in December 7
5.9 Chinese ferronickel producers' stocks up by 16.67% MoM in late December 8
6. Import and Export Statistics 8
6.1 China's ferro-nickel import volume grew 29.83% YoY in Nov 2024 8
6.2 China's refined nickel (Co＞0.Asian Metal Copyright5 Ferronickel 10%min EXW China 4 3.Asian Metal Copyright005%) import volume grew 54.76% YoY in Nov 2024 9
6.3 China's nickel sulfate imports up by 75.48% MoM in November 10
6.4 China's refined nickel (Co＞0.Asian Metal Copyright2 Qisheng Metal increases electrowinning nickel production 5 4.Asian Metal Copyright005%) export volume increased 57.59% YoY in Nov 2024 11


.Asian Metal Copyright7 Chinese ferronickel producers' operating rate reports 45Asian Metal Copyright