China NPI Output Rises Slightly in March, and to Reduce 4-5% MoM in April

SHANGHAI, Apr. 17 (SMM) – China's NPI output was 32,500 tonnes (Ni content) in March, up 0.3 percent and 10.9 percent on a monthly and yearly basis, respectively.

China's high-grade NPI output fell in March, due mainly to production cuts at one large high-grade NPI producer in Jiangsu after tight liquidity and unit maintenance at some high-grade NPI producers in Liaoning for tight ore supplies. But, more working days in March and production expansion at one plant in Shandong partially offset output losses from Jiangsu and Liaoning. Hence, high-grade NPI production fell in March in China, but the decline was small. 

Nickel Market to Come under Pressure from Waning Cost Support and Soft Demand in April, SMM Predicts

China's low-grade NPI output increased in March as some low-grade NPI and stainless steel integrated plants in south China expanded output and some plants in Shanxi restarted after unit maintenance in February. 

SMM predicts China's NPI output will fall by 4-5 percent in April on a monthly basis, taking into account of ore shortages, loss-making, weak demand, and NPI shipments from Indonesia. 

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