Newly-started NPI Plant: Estimated 5,000 Tonnes Output in November

On the supply side: Due to large import losses, NORNICKEL nickel, Sumitomo, NIKKELVERK nickel and Nickel briquette could not pass customs clearance, the market was in shortage of pure nickel.

According to SMM survey, the domestic high-carbon ferrochrome output totalled 389,000 mt in September, a drop of 96,200 mt or 19.83% month on month, and down 133,600 mt or 34.34% year on year.

China’s copper cathode output increased month on month in October, as there was basically no maintenance at smelters and as large-scale smelters maintained high production in Q4. Although domestic copper scrap was in short supply in October, smelters kept relatively ample stocks of blister copper. Furthermore, as the new secondary copper policy took effect from November 1, concerns over copper scrap supply were eased.

Mining and smelting firms will be particularly targeted in this round of inspections

March's purchasing prices of high-grade NPI at a northern stainless steel mill increased 55 yuan/mtu from Feb, to 1,020 yuan/mtu

This is a roundup of China’s base metals output in Sep, researched by SMM

PT Sulawesi Mining Investment, PT Virtue Dragon in Indonesia plan to expand their high-grade NPI capacity within this year

An estimated 7,000 mt of low-grade nickel pig iron (NPI) output will be affected across low-grade NPI plants in Linyi of Shandong province as plants shut for the Shanghai Cooperation Organisation

The operating rates at Chinese domestic zinc concentrate mines are expected to drop further in February, leaving smelters more reliant on imported materials.

SMM surveys major Chinese producers in the base metals market every month to get first-hand production data. The following table shows the latest output in December and our forecast for January.