SHANGHAI, Apr. 22 (SMM) –
INSG: 21,500 Mt of Surplus Nickel on Global Market during Jan.-Feb
According to the INSG last Wednesday, surplus nickel worldwide was 21,500 mt during the first two months of this year. Global primary nickel output hit 315,100 mt during January and February, but only 293,600 mt was consumed. Nickel inventories at nickel producers were 90,200 mt in January, higher than 87,400 mt in December 2012.
Fangchenggang Cooperates with Guangxi Jinchuan Non-Ferrous Metals on 110,000 Mt/Yr Nickel Processing Project
On April 12, the Fangchenggang Entry-Exit Inspection and Quarantine Bureau signed a Memorandum with Guangxi Jinchuan Non-Ferrous Metals regarding the construction of the latter’s nickel and copper processing project. The project, representing a total investment of RMB 30 billion, will produce 600,000 mt of copper products and 110,000 mt of nickel products annually.
150,000 Mt/Yr Ferronickel Alloy Project in Indonesia Approved by NDRC
The 150,000 mt/yr ferronickel alloy project, jointly invested by Shandong Weiye Group and Hong Kong Zhaoyu has been approved by the National Development & Reform Commission (NDRC). The project is located in Indonesia’s Sukrawetan and represents USD 97.9 million in total investments. This is another large project in Indonesia following Shandong Binbei New Materials’ 1 million mt/yr alumina project in the country.