Macrolink to Ship back NPI from Indonesia to China in September

On the supply side, because traders used futures to hedge the spot risk, while their short positions were about to change from month to April, which would bring them the cost of changing months.

Recently, the conflict between Russia and Ukraine has caused many worries in the financial market. With the further aggravation of the situation, both domestic and foreign nickel prices have risen sharply, among which SHFE nickel prices have once again been set a record high.

China imported 299,000 mt of NPI and ferronickel in October 2021, a decrease of 2.42% month-on-month but a growth of 10.09% year-on-year, according to customs data.

A fire broke out in the ferronickel smelting furnace at the nickel smelter in southeast Sulawesi, Indonesia yesterday at 4:00 p.m. According to sources, the furnace is located in Konawe and belongs to the PT.Obsidian stainless steel mill. The fire is currently affecting only one smelting furnace production line. The output of one ferronickel production line is expected to be 650 mt/month in Ni content under normal production. The impact caused by the fire is not significant.

China imported 306,500 mt of NPI and ferronickel in September 2021, a decrease of 12.34% month-on-month and 10.09% year-on-year, according to customs data.

China imported 48,000 mt of ferronickel from Indonesia in February, down 23% from January, according to latest customs data.

One NPI producer in Indonesia put online another two furnaces in late September due to rising price and positive demand in China, Shanghai Metals Market learns.

Virtue Dragon made its first NPI shipment in August, totaling 10,000 tonnes, a company official said. 

One NPI plant in Sulawesi, Indonesia purchased Ni 1.9% ore at CIF price of about $30 per wmt, Shanghai Metals Market learns. 

One major stainless steel mill in east China released the procurement price for high-grade NPI this past week, and the price was lower than expected, Shanghai Metals Market learns.