SHANGHAI, Dec. 17 (SMM) – Another 10 major Chinese medium and high-grade NPI producers will join in production cut plan in 2016, according to Shanghai Metals Market sources.
On Dec. 15, 10 large medium and high-grade NPI Chinese producers agreed to reduce production in the coming year, with output cut estimated at 13,000 tonnes (Ni content).
According to SMM data, NPI production at the 10 producers is expected at 51,400 tonnes (Ni content) in 2016, and average utilization rate will be 44.89%.
The cut, after adding the previous cut plan agreed by 8 large nickel producers in late November, will bring total cuts in 2016 production up to 78,000 tonnes (Ni content).
In 2016, the 8 domestic nickel producers are expected to produce 260,000 tonnes, and utilization rates will be 53.55%, with cuts expected at 65,000 tonnes (Ni content).
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