Tight supplies boost purchasing price of high-grade NPI

China’s NPI output rose 3.27% from December to 38,600 mt Ni in January. This included 31,600 mt Ni of high-grade NPI, up 5.74% on the month, and 7,000 mt Ni of low-grade NPI, down 6.58% month on month.

SMM high-grade NPI average price on December 4 was 1,030 yuan/mtu (ex-factory, tax included), down 10 yuan/mtu on the week. The purchase prices of high-grade NPI moved between 1,020-1,045 yuan/mtu (delivered to factory, tax included).  The willingness of restocking across steel plants have weakened along with the low stainless steel prices, which had dropped below the costs in all domestic ferronickel plants. This has led to lower transactions amid the ferronickel plants’ low intention of delivery.

China’s NPI output shrank 2.2% from October to 42,700 mt Ni in November.

Three local mills were required to cut emissions by at least 30% from Nov 1 to Feb 28, 2019

The Oct's PMI was 1.7 higher from Sep, and above the 50-mark that separates expansion from contraction

The instruction came even as the plant already met ultra-low emission standards

The facility will have annual capacity of secondary lead of 200,000 mt

The 3-year plan will target steel, non-ferrous metals, petrochemicals, and building materials

It will focus on research, development, production and sales of lithium-battery cathode material

An upbeat outlook on prices in the upcoming dry season fuelled stockpiling between Sep-Oct,