Nickel Market Report July 2012
2012-08-15 14:47:40 【Print】
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Introduction 5
1. Financial overview 5
1.1 CPI reached the bottom line for the past 24 months in June 5
1.2 PMI in July in China 6
1.3 Nonferrous metal prices rebounded due to stimulating policy expectation 7
2. International market review 7
2.1 Crude oil prices increased with fluctuations in the international market in June 7
2.2 USD index increased slightly 8
3. Global spot market review 9
3.1 Lateritic nickel ore market 9
3.2 Nickel cathodes market 12
3.3 Ferronickel market 15
3.4 Nickel sulfate market 18
4 Output in June 19
4.1 Electrolytic nickel output 19
4.2 Ferronickel output in June in China 19
5 Customs data 19
5.1 Nickel ore import down by 11.91% in July 19
5.2 Chinese refined nickel import down by 23.6% in June MOM 20
5.3 Top10 unrolled non-alloy nickel enterprises in China in June 21
5.4 Ferronickel import data in June in China 25
5.5 Chinese nickel sulfate import in June down 22.1% MOM 28
6. Nickel industry developments 29
6.1 Lateritic nickel ore industry developments 29
6.1.1 Royal Nickel Corporation ("RNC") (TSX: RNX) is pleased to announce the results of a revised pre-feasibility study ("revised PFS") for its Dumont Nickel Project ("Dumont") 29
6.1.2 Regency Mines PLC - Replacement - Increased MRE for Mambare 29
6.1.3 Indonesia has issued nickel ore export quota to 15 miners so far 30
6.2 Electrolytic nickel industry developments 30
6.2.1 Global nickel supply material in excess in 2012 30
6.2.2 Russia nickel exports from Jan to May increased by 48.7% YOY to 123700t 31
6.2.3 Qinghe Zhengda Powder Metallurgical Materials stops nickel sulfate production 31
6.3 Ferronickel industrial developments 31
6.3.1 Inner Mongolia Chengfeng Non-ferrous Metal Co., Ltd., planned to restart two furnaces. 31
6.3.2 Yishui Jinye Cast halted ferronickel 4-6% production from June 31
6.3.3 Ningxia Hengshun Smelter Co., Ltd., reduced ferronickel 10%min production 32
6.3.4 Inner Mongolia Zhuozi County Zisheng Metallurgy Co., Ltd., reduces ferronickel 11-13% production 32
6.3.5 Zhanhua Weiye Nickel Co., Ltd., reduced ferronickel 11-13% production 32
6.3.6 Inner Mongolia Baotou Xinxing Ferroalloy Chemical Co., Ltd., reduced ferronickel 10-13% production 32
6.3.7 Sinosteel Group’s Zhongbao Nickel Industry finished the equipment maintenance and will restart ferronickel production on 1 Sep 33
6.3.8 Inner Mongolia Baotou City Xingshi Chemical Co., Ltd., halted ferronickel 11-13% production 33
7. Stainless steel industry developments 33
7.1 Stainless steel scrap 33
7.2 300 series stainless steel 33
8. Outlook for August 34
8.1 Lateritic nickel ore market outlook 34
8.2 Electrolytic nickel market forecast 34
8.3 Ferronickel market outlook 34
8.4 Nickel salt market outlook 35
Picture
Picture 1 CPI and PPI in China during 2011-2012 6
Picture 2 Chinese PMI during 2011-2012 7
Picture 3 Crude oil futures prices in US 8
Picture 4 USD index 9
Picture 5 Chinese lateritic nickel ore (nickel content of 1.8%) delivered-at-ports price trend in July: RMB/t 11
Picture 6 Nickel cathodes of Jinchuan brand factory price 14
Picture 7 Nickel cathodes of Jinchuan brand price in spot market 14
Picture 8 Nickel of Norilsk brand price in Chinese spot market 15
Picture 9 Nickel of Inco brand price in Chinese spot market 15
Picture 10 Ex works price trend of ferronickel 10%min in July in China: RMB/mtu 17
Picture 11 Ex works price trend of ferronickel 4-6%min in July in China: RMB/mtu 17
Picture 12 Ex works price trend of ferronickel 7-9%min in July in China: RMB/mtu 18
Picture 13 nickel sulfate price movement in June 19
Table
Table 1 Inventory quantity and vessel mooring situation 10
Table 2 Electrolytic nickel output in July in China 19
Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in July in China 20
Table 4 Top 10 unwrought non-alloy nickel import enterprises in June in China 21
Table 5 unwrought non-alloy nickel import countries in June 21
Table 6 Top10 ferronickel import enterprises in June in China 26
Table 7 ferronickel import in detail in June in China 26
1. Financial overview 5
1.1 CPI reached the bottom line for the past 24 months in June 5
1.2 PMI in July in China 6
1.3 Nonferrous metal prices rebounded due to stimulating policy expectation 7
2. International market review 7
2.1 Crude oil prices increased with fluctuations in the international market in June 7
2.2 USD index increased slightly 8
3. Global spot market review 9
3.1 Lateritic nickel ore market 9
3.2 Nickel cathodes market 12
3.3 Ferronickel market 15
3.4 Nickel sulfate market 18
4 Output in June 19
4.1 Electrolytic nickel output 19
4.2 Ferronickel output in June in China 19
5 Customs data 19
5.1 Nickel ore import down by 11.91% in July 19
5.2 Chinese refined nickel import down by 23.6% in June MOM 20
5.3 Top10 unrolled non-alloy nickel enterprises in China in June 21
5.4 Ferronickel import data in June in China 25
5.5 Chinese nickel sulfate import in June down 22.1% MOM 28
6. Nickel industry developments 29
6.1 Lateritic nickel ore industry developments 29
6.1.1 Royal Nickel Corporation ("RNC") (TSX: RNX) is pleased to announce the results of a revised pre-feasibility study ("revised PFS") for its Dumont Nickel Project ("Dumont") 29
6.1.2 Regency Mines PLC - Replacement - Increased MRE for Mambare 29
6.1.3 Indonesia has issued nickel ore export quota to 15 miners so far 30
6.2 Electrolytic nickel industry developments 30
6.2.1 Global nickel supply material in excess in 2012 30
6.2.2 Russia nickel exports from Jan to May increased by 48.7% YOY to 123700t 31
6.2.3 Qinghe Zhengda Powder Metallurgical Materials stops nickel sulfate production 31
6.3 Ferronickel industrial developments 31
6.3.1 Inner Mongolia Chengfeng Non-ferrous Metal Co., Ltd., planned to restart two furnaces. 31
6.3.2 Yishui Jinye Cast halted ferronickel 4-6% production from June 31
6.3.3 Ningxia Hengshun Smelter Co., Ltd., reduced ferronickel 10%min production 32
6.3.4 Inner Mongolia Zhuozi County Zisheng Metallurgy Co., Ltd., reduces ferronickel 11-13% production 32
6.3.5 Zhanhua Weiye Nickel Co., Ltd., reduced ferronickel 11-13% production 32
6.3.6 Inner Mongolia Baotou Xinxing Ferroalloy Chemical Co., Ltd., reduced ferronickel 10-13% production 32
6.3.7 Sinosteel Group’s Zhongbao Nickel Industry finished the equipment maintenance and will restart ferronickel production on 1 Sep 33
6.3.8 Inner Mongolia Baotou City Xingshi Chemical Co., Ltd., halted ferronickel 11-13% production 33
7. Stainless steel industry developments 33
7.1 Stainless steel scrap 33
7.2 300 series stainless steel 33
8. Outlook for August 34
8.1 Lateritic nickel ore market outlook 34
8.2 Electrolytic nickel market forecast 34
8.3 Ferronickel market outlook 34
8.4 Nickel salt market outlook 35
Picture
Picture 1 CPI and PPI in China during 2011-2012 6
Picture 2 Chinese PMI during 2011-2012 7
Picture 3 Crude oil futures prices in US 8
Picture 4 USD index 9
Picture 5 Chinese lateritic nickel ore (nickel content of 1.8%) delivered-at-ports price trend in July: RMB/t 11
Picture 6 Nickel cathodes of Jinchuan brand factory price 14
Picture 7 Nickel cathodes of Jinchuan brand price in spot market 14
Picture 8 Nickel of Norilsk brand price in Chinese spot market 15
Picture 9 Nickel of Inco brand price in Chinese spot market 15
Picture 10 Ex works price trend of ferronickel 10%min in July in China: RMB/mtu 17
Picture 11 Ex works price trend of ferronickel 4-6%min in July in China: RMB/mtu 17
Picture 12 Ex works price trend of ferronickel 7-9%min in July in China: RMB/mtu 18
Picture 13 nickel sulfate price movement in June 19
Table
Table 1 Inventory quantity and vessel mooring situation 10
Table 2 Electrolytic nickel output in July in China 19
Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in July in China 20
Table 4 Top 10 unwrought non-alloy nickel import enterprises in June in China 21
Table 5 unwrought non-alloy nickel import countries in June 21
Table 6 Top10 ferronickel import enterprises in June in China 26
Table 7 ferronickel import in detail in June in China 26
