[SMM data] inventory tightening Iron Plant production cut in April continued to fall 4.49% from the previous month to 38400 nickel tons

National production of nickel pig iron fell 4.49 per cent to 38400 nickel tons in April from a month earlier, down 19.91 per cent from a year earlier, and production has fallen month by month since November 19 (53100 nickel tons). In terms of grade, the output of high nickel and iron in April was 31300 nickel tons, down 7.33% from the previous month, while that of low nickel iron in March was 7100 nickel tons, an increase of 10.46% over the previous month. In April, the output of nickel pig iron continued to decline, the reduction was in the part of high nickel pig iron, the stock of nickel mine was tight, but the overall supply of nickel iron was still in a slightly surplus state. In order to continue to reduce the load or suspend part of the production line, the reduction mainly occurred in large iron plants in April. The increase in low nickel pig iron production compared with March is mainly due to the increase in 200 series production of some integrated iron plants.

In May, national nickel pig iron production is expected to pick up slightly from the previous month, an increase of 0.46 per cent to 38700 nickel tons. Among them, the output of high nickel pig iron increased by 0.59% to 31500 nickel tons from the previous month. Low nickel pig iron increased by 0.87% to 7100 nickel tons. Output in May rebounded slightly from April, mainly due to the resumption of production by some manufacturers who stopped production and maintenance or suspended production and thermal insulation operations in May. Although iron prices rebounded in April / May and the profit margin of the iron plant expanded, the probability of a significant increase in production was less likely because nickel mine stocks were still tight in May.

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