Nickel Market Report August 2012
2012-09-18 13:57:59 【Print】
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Introduction 5
1. Financial overview 5
1.1 Chinese CPI sees continuous downtick in July 5
1.2 Chinese PMI recorded new bottom in July 6
1.3 Expectations for easing policy will hold nonferrous metal prices up 7
2. International market review 7
2.1 Global crude oil prices see volatile appreciation in August 7
2.2 USDX sees volatile downtick 8
3. Global spot market review 9
3.1 Lateritic nickel ore market 9
3.2 Nickel cathodes market 12
3.3 Ferronickel market 14
3.4 Nickel sulfate market 18
4 Output in August 19
4.1 Electrolytic nickel output 19
4.2 Ferronickel output in August in China 20
5 Customs data 20
5.1 Nickel ore import up by 3.46% in July MOM 20
5.2 Chinese refined nickel import up by 39.1% in July MOM 21
5.3 Top10 unrolled non-alloy nickel enterprises in China in July 21
5.4 Ferronickel import data in July in China 26
5.5 Chinese nickel sulfate import in July down 12.8% MOM 28
6. Nickel industry developments 29
6.1 Lateritic nickel ore industry developments 29
6.1.1 African Rainbow minerals NUM warns of strike at Nkomati 29
6.1.2 Sihong County start to exploit nickel copper minerals 29
6.1.3 Murrin Murrin plant in the first half of 2012 nickel crop is 16050 tons 29
6.1.4 Horizonte Minerals announces excellent results of preliminary economic assessment 30
6.1.5 Indonesia approved the export of ore amount to amount to already amounted to 19370000 tons 30
6.2 Electrolytic nickel industry developments 30
6.2.1 Norilsk Nickel announces implementation of a project aiming to restore mineral resource 30
6.2.2 Completion of the Qualifying Transaction immediately began 30
6.2.3 US nickel export down by 4.9% MON in June 31
6.3 Ferronickel industrial developments 31
6.3.1 Suqian Xiangxiang Industry Co. Ltd. reduced ferronickel 10%min production in July 31
6.3.2 Huade County Tongsheng Ferroalloy Co. Ltd. reduced ferronickel 10%min production in July. 31
6.3.3 Qingdao Baolifeng Metallurgy Co., Ltd, planed to transfer ferronickel 4-6% production to ferronickel 1.5-2.0% this week. 31
6.3.4 Ningxia Jiyuan Metallurgy Co., Ltd. reduced ferronickel 10%min production in August. 32
6.3.5 Linyi Yichen Nichrome Co., Ltd. restarted ferronickel production this month. 32
6.3.6 Huaxin Industry Co., Ltd., restarted operation for low-grade ferronickel in early-August. 32
7. Stainless steel industry developments 32
7.1 Stainless steel scrap 32
7.2 300 series stainless steel 32
8. Outlook for August 33
8.1 Lateritic nickel ore market outlook 33
8.2 Electrolytic nickel market forecast 33
8.3 Ferronickel market outlook 33
8.4 Nickel salt market outlook 34
Picture
Picture 1 Chart of CPI and PPI in China during 2011-2012 6
Picture 2 Index of PMI in China during 2011-2012 7
Picture 3 Prices in main contract market of crude oil in US 8
Picture 4 Chart of USDX tendency 8
Picture 5 Chinese lateritic nickel ore (nickel content of 1.8%) delivered-at-ports price trend in August: RMB/t 11
Picture 6 Nickel cathodes of Jinchuan brand factory price 13
Picture 7 Nickel cathodes of Jinchuan brand price in spot market 13
Picture 8 Nickel of Norilsk brand price in Chinese spot market 14
Picture 9 Nickel of Inco brand price in Chinese spot market 14
Picture 10 Ex works price trend of ferronickel 10%min in August in China: RMB/mtu 17
Picture 11 Ex works price trend of ferronickel 4-6%min in August in China: RMB/mtu 17
Picture 12 Ex works price trend of ferronickel 7-9%min in August in China: RMB/mtu 18
Picture 13 nickel sulfate price movement in August 19
Table
Table 1 Inventory quantity and vessel mooring situation 10
Table 2 the purchasing price for ferronickel from some large stainless steel plants 15
Table 3 the purchasing price for ferronickel from some large stainless steel plants 16
Table 4 Electrolytic nickel output in August in China 20
Table 5 Top 10 import enterprises of nickel ore sand and nickel concentrate in July in China 20
Table 6 Top 10 unwrought non-alloy nickel import enterprises in July in China 21
Table 7 unwrought non-alloy nickel import countries in July 22
Table 8 China top 10 ferronickel import enterprises review in July 26
Table 9 ferronickel import in detail in July in China 26
1. Financial overview 5
1.1 Chinese CPI sees continuous downtick in July 5
1.2 Chinese PMI recorded new bottom in July 6
1.3 Expectations for easing policy will hold nonferrous metal prices up 7
2. International market review 7
2.1 Global crude oil prices see volatile appreciation in August 7
2.2 USDX sees volatile downtick 8
3. Global spot market review 9
3.1 Lateritic nickel ore market 9
3.2 Nickel cathodes market 12
3.3 Ferronickel market 14
3.4 Nickel sulfate market 18
4 Output in August 19
4.1 Electrolytic nickel output 19
4.2 Ferronickel output in August in China 20
5 Customs data 20
5.1 Nickel ore import up by 3.46% in July MOM 20
5.2 Chinese refined nickel import up by 39.1% in July MOM 21
5.3 Top10 unrolled non-alloy nickel enterprises in China in July 21
5.4 Ferronickel import data in July in China 26
5.5 Chinese nickel sulfate import in July down 12.8% MOM 28
6. Nickel industry developments 29
6.1 Lateritic nickel ore industry developments 29
6.1.1 African Rainbow minerals NUM warns of strike at Nkomati 29
6.1.2 Sihong County start to exploit nickel copper minerals 29
6.1.3 Murrin Murrin plant in the first half of 2012 nickel crop is 16050 tons 29
6.1.4 Horizonte Minerals announces excellent results of preliminary economic assessment 30
6.1.5 Indonesia approved the export of ore amount to amount to already amounted to 19370000 tons 30
6.2 Electrolytic nickel industry developments 30
6.2.1 Norilsk Nickel announces implementation of a project aiming to restore mineral resource 30
6.2.2 Completion of the Qualifying Transaction immediately began 30
6.2.3 US nickel export down by 4.9% MON in June 31
6.3 Ferronickel industrial developments 31
6.3.1 Suqian Xiangxiang Industry Co. Ltd. reduced ferronickel 10%min production in July 31
6.3.2 Huade County Tongsheng Ferroalloy Co. Ltd. reduced ferronickel 10%min production in July. 31
6.3.3 Qingdao Baolifeng Metallurgy Co., Ltd, planed to transfer ferronickel 4-6% production to ferronickel 1.5-2.0% this week. 31
6.3.4 Ningxia Jiyuan Metallurgy Co., Ltd. reduced ferronickel 10%min production in August. 32
6.3.5 Linyi Yichen Nichrome Co., Ltd. restarted ferronickel production this month. 32
6.3.6 Huaxin Industry Co., Ltd., restarted operation for low-grade ferronickel in early-August. 32
7. Stainless steel industry developments 32
7.1 Stainless steel scrap 32
7.2 300 series stainless steel 32
8. Outlook for August 33
8.1 Lateritic nickel ore market outlook 33
8.2 Electrolytic nickel market forecast 33
8.3 Ferronickel market outlook 33
8.4 Nickel salt market outlook 34
Picture
Picture 1 Chart of CPI and PPI in China during 2011-2012 6
Picture 2 Index of PMI in China during 2011-2012 7
Picture 3 Prices in main contract market of crude oil in US 8
Picture 4 Chart of USDX tendency 8
Picture 5 Chinese lateritic nickel ore (nickel content of 1.8%) delivered-at-ports price trend in August: RMB/t 11
Picture 6 Nickel cathodes of Jinchuan brand factory price 13
Picture 7 Nickel cathodes of Jinchuan brand price in spot market 13
Picture 8 Nickel of Norilsk brand price in Chinese spot market 14
Picture 9 Nickel of Inco brand price in Chinese spot market 14
Picture 10 Ex works price trend of ferronickel 10%min in August in China: RMB/mtu 17
Picture 11 Ex works price trend of ferronickel 4-6%min in August in China: RMB/mtu 17
Picture 12 Ex works price trend of ferronickel 7-9%min in August in China: RMB/mtu 18
Picture 13 nickel sulfate price movement in August 19
Table
Table 1 Inventory quantity and vessel mooring situation 10
Table 2 the purchasing price for ferronickel from some large stainless steel plants 15
Table 3 the purchasing price for ferronickel from some large stainless steel plants 16
Table 4 Electrolytic nickel output in August in China 20
Table 5 Top 10 import enterprises of nickel ore sand and nickel concentrate in July in China 20
Table 6 Top 10 unwrought non-alloy nickel import enterprises in July in China 21
Table 7 unwrought non-alloy nickel import countries in July 22
Table 8 China top 10 ferronickel import enterprises review in July 26
Table 9 ferronickel import in detail in July in China 26
