SHANGHAI, Sept. 11 (SMM) – Jinchuan Group is expected to see a drop of 3,000 tonnes at least in refined nickel output in September due to unit malfunction, Shanghai Metals Market estimates.
“The company’s monthly output of refined nickel is around 12,000-13,000 tonnes since this year, and the impact on its production after its acid-making unit fault will be big in September,” SMM nickel analyst says.
So far, the company hasn’t given the production loss estimation after the unit breakdown, with assessment underway, it said on its website.
In August, output of refined nickel at Jinchuan Group dropped 1.31% on the month.
Nickel prices tumbled to a 7-year low in August, and some domestic producers chose to cut or halt production due to losses.
On Sept. 11, prices of #1 Jinchuan nickel were 78,400-77,900 yuan per tonne, down 4.5% from early August’s.
The same day, the company also announced to raise its ex-works prices up to 77,800 yuan per tonne.
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