China Nickel Monthly (20161116)

  Highlights


Xinxing Ductile Iron Pipes, Central Omega Resources and Zhenshi Group put their NPI projects in Indonesia into production with rising nickel prices and stronger NPI demand. SMM expects newly increased NPI output in Indonesia will be 51,300 mt (Ni content) in 2016, with NPI output in Indonesia between 75,400-80,400 mt (Ni content) in 2016. 

Chinese yuan’s devaluation accelerated as the likelihood of US Fed’s rate hike increased at December’s meeting. When combined with the onset of the rainy season in the Philippines and climbing stainless steel prices, LME nickel surged USD 760/mt November 7. LME nickel will fluctuate between USD 10,400-11,500/mt in November. 

China’s NPI prices inched up in October. But high-grade NPI producers reported weaker profitability in October compared to September’s due to big increase in raw material prices. Profit margin at RKEF NPI producers remained above 10%. 

China imported 4.96 million mt of nickel ore in September 2016, up 15.82% MoM. The month-on-month growth in nickel ore imports is due mainly to strong NPI demand and the need for stockpiling for winter productionby domestic NPI producers. SMM expects Philippine nickel ore exports to be 4.10 million wmt in October, down 40% from September’s, mainly because of environmental protection factor in the country and the onset of the rainy season in some regions. 

China’s stainless steel output grew during September-October due to the high-demand season. With surging ferrochrome prices and ending of peak demand season, some stainless steel plants conducted maintenance or cut output. This, coupled with low temperatures in the winter season, will dampen nickel demand in November. 
 

Keywords:China Nickel Monthly (20161116)


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Publications Introduction

Focused on China's non-ferrous base metal market, SMM has more than 50 professional industry analysts in copper, aluminum, lead, zinc, nickel, tin and minor metals, and is committed to providing in-depth, professional, as well as timely reports and research. There are also over 100 staff dedicated to collecting data and conducting surveys in the downstream industries, in an effort to reflect an objective and actual downstream demand. The related reports include China Base Metal Briefing (weekly), and a series of Annual Industry Analysis Reports, with products involved Copper, Aluminum, Lead, Zinc, Nickel, Silicon, etc.

Besides, SMM has more than 80 steel professionals engaged in China's steel industry. They have been working on the weekly report China Steel Briefingand and the monthly report China Steel PMI-Monthly which is a survey to reflect steel downstream demand intensity.

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