NPI Plant Maintenance: 100-150 Metal Content Tons to be Affected

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, import profits rose as the SHFE/LME nickel price ratio advanced this week. In addition, traders that had locked in the SHFE/LME price ratio last week moved goods into the domestic market for delivery.

SMM data showed that China's refined zinc output stood at 508,900 mt in August, down 1.22% on the month and 0.04% on the year. Output from January to August was 4.04 million mt, a year-on-year increase of 4.47%. Alloy output at domestic refined zinc smelters in SMM’s survey sample registered 75,500 mt in August, up 80 mt on the month.

Shanghai base metals mostly fell in the evening trading on Tuesday as the US dollar index rebounded for two consecutive days.

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.

SHFE nonferrous metals ended higher for the most part on Tuesday July 7, even as some retreated after a rally on Monday, as investors weighed growing expectations of an economic revival in China and a resurgent US services industry.

The maintenance starts from Nov 15

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