Guangxi Yinyi resumes nickel sulphate production

Nickel prices rose slightly last week due to macroeconomic factors, providing support to the price of nickel sulphate.

Ten ASEAN countries, China, Japan, South Korea, Australia and New Zealand signed the world’s largest trade agreement, the Regional Comprehensive Economic Partnership or RCEP, on November 15. The signing of RCEP is an important step for Asia-Pacific countries to uphold multilateral trading system and build an open world economy.

Domestic nickel sulphate output in October stood at 17,000 mt of Ni content, and 77,400 mt of physical content, up 22.62% on the month and 45.43% year on year.

China’s copper cathode output continued to rise in May after some of the smelters recovered from maintenance.

China’s output of nickel sulphate extended its decline in May, as weak demand, existing inventories and the ongoing price war forced some producers to trim or suspend production.

Jinye Group has taken over Yunnan Yongchang Iron and Steel, which is expected to resume production in May.

China’s copper cathode output in March increased even as secondary copper production continued to contract due to the unfavourable price spread between copper cathode and copper scrap, in addition to copper scrap supply issues. The global outbreak of COVID-19 took a toll on copper scrap supply from Malaysia.

Production of refined nickel inched up 1.5%

The steelmaker has pig iron capacity of 1.3 million mt on an annualised basis

Steelmakers across the region have started production curtailments