Nickel Market Report January 2013
2013-02-20 18:05:58 【Print】
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Introduction 5
1. Financial overview 5
1.1 CPI up by 2.5%, PPI down by 1.9% Y-o-Y in December 5
1.2 China’s PMI declines steadily in January 6
2. International market review 7
2.1 International crude oil futures rebound rapidly in January 7
2.2 US dollar index declines with improved Europe situations 8
2.3 Global economy recovers in 2013, nonferrous metal market to perform well 9
3. Global spot market review 10
3.1 Lateritic nickel ore market 10
3.2 Nickel cathodes market 12
3.3 Ferronickel market 15
3.4 Nickel sulfate market 18
4 Output in January 19
4.1 Nickel cathodes output 19
4.2 Ferronickel output in January in China 20
5 Customs data 21
5.1 Nickel ore import up by 9.98% in December 21
5.2 Chinese refined nickel import up by 13.47% in December MOM 21
5.3 Top10 unrolled non-alloy nickel enterprises in China in December 22
5.4 Ferronickel import data in December in China 26
5.5 Chinese nickel sulfate import up by 11.53% in December MOM 30
6. Nickel industry developments 31
6.1 Lateritic nickel ore industry developments 31
6.1.1 Minmetals Resources Limited is looking forward to purchase nickel ore. Sudbury’s Lockerby nickel mine kept nickel ore operation and the output can reach 5,700,000 pound in 2012. 31
6.1.2 First Quantum output of nickel increased by 78% to 10,096t in fourth quarter, and the output is around 36,759t in 2012, up by 549% year-on-year. 31
Ravensthorpe project output of nickel is around 8,227t in fourth quarter, up by 45% year-on-year, and the output in 2012 is around 32,884t, up by 480% compared with that last year. 31
6.1.3 Vietnam to maintain nickel concentrate 20% export tariff unchanged 31
Asian Mineral Resources Limited, pointed out that the Ministry of Finance of the Socialist Republic of Vietnam has issued a notice provisions since January 1, 2013, imposed a 5% export tariff on nickel matte, nickel concentrate to maintain 20% export tariff unchanged 31
6.2 Nickel cathodes industry developments 31
6.2.1 First Quantum output of nickel increased by 78% to 10,096t in fourth quarter, and the output is around 36,759t in 2012, up by 549% year-on-year. Ravensthorpe project output of nickel is around 8,227t in fourth quarter, up by 45% year-on-year, and the output in 2012 is around 32,884t, up by 480% compared with that last year. 31
6.2.2 Talvivaara Mining Company Plc (TALV.L) said that the leakage of the gypsum pond at the Sotkamo mine has been stopped. 31
6.3 Ferronickel industrial developments 32
6.3.1 Inner Mongolia Heyi Nickel-Chromium Composite Co., Ltd. will resume ferronickel production in April 2013. 32
6.3.2 Tengda Cast Tube halts ferronickel production 32
6.3.3 Yingkou Gaoke Refractory Co., Ltd, plans to resume ferronickel production after the Spring Festival holiday. 33
6.3.4 Henan Anyang Delongxing Nickel Industry Co., Ltd., halted operation of middle-grade ferronickel 33
6.3.5 Chongzhou Shuxing Electrometallurgy Co., Ltd., halted operation of high-grade ferronickel 33
7. Stainless steel industry developments 33
7.1 Stainless steel scrap 33
7.2 300 series stainless steel 34
8. Outlook for January 34
8.1 Lateritic nickel ore market outlook 34
8.2 Nickel cathodes market forecast 34
8.3 Ferronickel market outlook 34
8.4 Nickel salt market outlook 34
Picture
Picture 1 Chart of CPI and PPI in China during 2011-2012 6
Picture 2 Chinese PMI chart during 2011-2013 7
Picture 3 Main contracts prices of US crude oil futures in January 8
Picture 4 Chart of USD Index tendency 9
Picture 5 Chinese lateritic nickel ore (nickel content of 1.8%) delivered-at-ports price trend in January: 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 China: RMB/mtu 17
Picture 11 Ex works price trend of ferronickel 4-6%min in China: RMB/mtu 17
Picture 12 Ex works price trend of ferronickel 7-9%min in China: RMB/mtu 18
Picture 13 nickel sulfate price movement in November 19
Table
Table 1 Inventory quantity and vessel mooring situation 11
Table 2 nickel cathodes output in January in China .21
Table 3 Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in December in China 22
Table 4: China Import statistics of nickel ore san and concentrate in December….23
Table 5 Top 10 unwrought non-alloy nickel import enterprises in December in China 28
Table 6China top 10 ferronickel import enterprises review in December 32
Table 7: China Import statistics of ferronickel in December……………………….33
Table 8 China top 10 nickel sulfate import enterprises review in December………35
1. Financial overview 5
1.1 CPI up by 2.5%, PPI down by 1.9% Y-o-Y in December 5
1.2 China’s PMI declines steadily in January 6
2. International market review 7
2.1 International crude oil futures rebound rapidly in January 7
2.2 US dollar index declines with improved Europe situations 8
2.3 Global economy recovers in 2013, nonferrous metal market to perform well 9
3. Global spot market review 10
3.1 Lateritic nickel ore market 10
3.2 Nickel cathodes market 12
3.3 Ferronickel market 15
3.4 Nickel sulfate market 18
4 Output in January 19
4.1 Nickel cathodes output 19
4.2 Ferronickel output in January in China 20
5 Customs data 21
5.1 Nickel ore import up by 9.98% in December 21
5.2 Chinese refined nickel import up by 13.47% in December MOM 21
5.3 Top10 unrolled non-alloy nickel enterprises in China in December 22
5.4 Ferronickel import data in December in China 26
5.5 Chinese nickel sulfate import up by 11.53% in December MOM 30
6. Nickel industry developments 31
6.1 Lateritic nickel ore industry developments 31
6.1.1 Minmetals Resources Limited is looking forward to purchase nickel ore. Sudbury’s Lockerby nickel mine kept nickel ore operation and the output can reach 5,700,000 pound in 2012. 31
6.1.2 First Quantum output of nickel increased by 78% to 10,096t in fourth quarter, and the output is around 36,759t in 2012, up by 549% year-on-year. 31
Ravensthorpe project output of nickel is around 8,227t in fourth quarter, up by 45% year-on-year, and the output in 2012 is around 32,884t, up by 480% compared with that last year. 31
6.1.3 Vietnam to maintain nickel concentrate 20% export tariff unchanged 31
Asian Mineral Resources Limited, pointed out that the Ministry of Finance of the Socialist Republic of Vietnam has issued a notice provisions since January 1, 2013, imposed a 5% export tariff on nickel matte, nickel concentrate to maintain 20% export tariff unchanged 31
6.2 Nickel cathodes industry developments 31
6.2.1 First Quantum output of nickel increased by 78% to 10,096t in fourth quarter, and the output is around 36,759t in 2012, up by 549% year-on-year. Ravensthorpe project output of nickel is around 8,227t in fourth quarter, up by 45% year-on-year, and the output in 2012 is around 32,884t, up by 480% compared with that last year. 31
6.2.2 Talvivaara Mining Company Plc (TALV.L) said that the leakage of the gypsum pond at the Sotkamo mine has been stopped. 31
6.3 Ferronickel industrial developments 32
6.3.1 Inner Mongolia Heyi Nickel-Chromium Composite Co., Ltd. will resume ferronickel production in April 2013. 32
6.3.2 Tengda Cast Tube halts ferronickel production 32
6.3.3 Yingkou Gaoke Refractory Co., Ltd, plans to resume ferronickel production after the Spring Festival holiday. 33
6.3.4 Henan Anyang Delongxing Nickel Industry Co., Ltd., halted operation of middle-grade ferronickel 33
6.3.5 Chongzhou Shuxing Electrometallurgy Co., Ltd., halted operation of high-grade ferronickel 33
7. Stainless steel industry developments 33
7.1 Stainless steel scrap 33
7.2 300 series stainless steel 34
8. Outlook for January 34
8.1 Lateritic nickel ore market outlook 34
8.2 Nickel cathodes market forecast 34
8.3 Ferronickel market outlook 34
8.4 Nickel salt market outlook 34
Picture
Picture 1 Chart of CPI and PPI in China during 2011-2012 6
Picture 2 Chinese PMI chart during 2011-2013 7
Picture 3 Main contracts prices of US crude oil futures in January 8
Picture 4 Chart of USD Index tendency 9
Picture 5 Chinese lateritic nickel ore (nickel content of 1.8%) delivered-at-ports price trend in January: 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 China: RMB/mtu 17
Picture 11 Ex works price trend of ferronickel 4-6%min in China: RMB/mtu 17
Picture 12 Ex works price trend of ferronickel 7-9%min in China: RMB/mtu 18
Picture 13 nickel sulfate price movement in November 19
Table
Table 1 Inventory quantity and vessel mooring situation 11
Table 2 nickel cathodes output in January in China .21
Table 3 Table 3 Top 10 import enterprises of nickel ore sand and nickel concentrate in December in China 22
Table 4: China Import statistics of nickel ore san and concentrate in December….23
Table 5 Top 10 unwrought non-alloy nickel import enterprises in December in China 28
Table 6China top 10 ferronickel import enterprises review in December 32
Table 7: China Import statistics of ferronickel in December……………………….33
Table 8 China top 10 nickel sulfate import enterprises review in December………35
