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Chinese Nickel Production in January dips 17% YoY

Metal News - Published on Mon, 17 Feb 2020

Image Source: PV Magazine
China’s production of refined nickel declined 10.53% in January to 14,300 tonnes, producing a year-over-year decrease of 16.97%. On the backdrop of the epidemic outbreak, nickel smelters in Gansu and Xinjiang are operating as previously planned, while those in Shandong and Tianjin have swung to low gear and those in other regions remain closed. This is expected to lower refined nickel production in February by 7.78% to 13,200 tonnes. The recovery of the smelter in Jilin is likely to help offset the hit on overall production from delayed resumption amid the outbreak.

Output of Nickel pig iron in China slipped 4.52% month on month but climbed 6.86% year on year to 45,500 tonnes in Ni content in January. High-grade NPI accounted for 38,400 tonnes in Ni content, down 3.93% from December, as losses and raw material supply troubles caused by the epidemic prompted producers in Inner Mongolia and Liaoning where costs are relatively higher, to trim output. Some plants in Inner Mongolia have been closed since the CNY holidays. Production of low-grade NPI fell 7.6% to 7,100 tonnes in Ni content last month, as some NPI and #200-series stainless steel integrated plants cut production around the CNY holidays. Compared to high-grade material, production of low-grade NPI felt less impact from the epidemic. NPI production in China is expected to extend the decline in February, falling 0.63% on the month to 45,200 tonnes in Ni content, as logistics constraints will likely force high-grade NPI producers to curtail production. The latest SMM survey showed that stocks of accessories at most high-grade NPI producers could ensure production for about half a month.

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Posted By : Nishith Sharma on Mon, 17 Feb 2020
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