China will ban imports of 16 more scrap metal and chemical waste products from December 31, 2018, according to release by the Ministry of Ecology and Environment (MEE) on Wednesday April 19
LME nickel price hit a record high since 2015 on declining inventory, US sanctions against Russia and downstream demand from the new-energy vehicle industry, SMM believes.
price review forecast
Zinc spot premiums stood at high levels over the past week as sellers were not willing to let go cargoes given weak zinc prices and the expected lower value-added tax rate from May, SMM believes.
Operating rates at Chinese copper rod producers jumped to 79.4% in March, up 10.05 percentage points year on year and 31.73 percentage points on the month, SMM survey showed.
China's production capacity of nickel sulphate is expected to exceed 700,000 mt in 2018, and equate to 160,000 mt of nickel.
Development in cathode materials is likely to drive the development of new-energy cars as cathode materials determine battery performance.
Indonesia and the Philippines are likely to export 48.8 million mt nickel ore to China in 2018
Nickel pig iron (NPI) is likely to account for close to 60% of the raw material supply for stainless steel from 2019, according to senior analyst of nickel at SMM, Wang Cong.
China's demand for cobalt this year is expected to increase by 2,200 mt in metal content, according to Hong Lu, SMM senior analyst.
Iron ore inventory at 35 major Chinese ports stood at 147.77 million mt as of Friday April 13, down 2.27 million mt from a week ago, SMM data showed.
Steel mills in Wu’an city of Hebei province continued to see their operations restricted on environmental concerns, SMM learned.
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