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[today's Nickel Market] Nickel futures continue to fluctuate and spot transactions tend to weaken. Shengtun Mining High Ice Nickel Project has been officially put into production.
Sep 8,2020 14:00CST
The content below was translated by Tencent automatically for reference.

Nickel spot

Today's nickel focus is still around 119000 yuan / ton first line to do shock consolidation, the spot market, nickel board is still quoted more less shipments are limited. Russian nickel quotation is more stable than yesterday, the mainstream quotation is still around 10 contracts-300 yuan / ton; Jinchuan nickel rising water continues to rise mainstream quotation for 10 contracts rising 1400-1500 yuan / ton, it is reported that most of the goods picked up from Gansu have been sold in transit, so the tight spot situation in Shanghai may continue to be maintained. Today's ex-factory price of 120200 yuan / ton in Jinchuan is the same as yesterday, and about 1300 yuan / ton higher than the market. Jinchuan rising water is expected to remain at a high level. The performance of nickel beans continues to be weak in supply and demand, with a unified quotation of-600 yuan / ton in the market, the holder is in no hurry to ship, and there are few enquiries downstream.

Important news

[Shengtun Mining: Youshan Nickel Industry has an annual output of 34000 tons of nickel metal high matte project No. 1 electric furnace successfully produced the first batch of ferronickel] on September 8, Shengtun Mining issued its "Progress announcement on Foreign Investment." the 37th meeting of the board of directors of the company examined and approved the "proposal on investing in the project of high nickel production of 34000 tons of nickel metal per year in Weidabe Industrial Park, Indonesia." The joint venture company Youshan Nickel Indonesia Co., Ltd. (Youshan Nickel) will implement the construction of a high nickel matte project with an annual output of 34000 tons of nickel. It is reported that the No. 1 electric furnace with an annual output of 34000 tons of nickel metal in Weidabe Industrial Park, Indonesia, which was built by Youshan Nickel Co., Ltd., successfully produced the first batch of Ferro nickel on September 5, 2020. The company said that the Youshan Nickel Project with an annual output of 34000 tons of nickel metal and high matte has been officially put into production, which has expanded the scale of the company's overseas nickel business, which will produce better economic benefits in the future, help to further enhance the company's profitability and sustainable development ability, and will have a positive impact on the company's financial statements. "View details

[the exclusive period of Vale and New Century Resources ends the deal of New Caledonia Nickel assets failed] it is reported that Vale was unable to reach an agreement with New Century Resources Company (New Century Resources Limited) on the sale of New Caledonia Nickel assets (Noveelle Caledonie), the exclusive period of which ended on September 8, began on May 25 and was extended on July 28. "View details

[Indonesia's Ministry of Energy and Minerals is considering whether to approve the application for tailings discharge from the laterite nickel wet plant project] on September 7, Lai Ma (Lana Saria), director of the Environmental Protection Department of Indonesia's Ministry of Energy and Minerals, said in an interview that two wet process plant project companies have applied for tailings discharge, namely, Qingshan Morowali Park in Central Sulawesi Province and Obi Island in North Maluku Province, and the Indonesian government is considering whether to grant instructions.

[Australia's largest nickel mine businessman visits Indonesian President Zok Widodo] Indonesian Ocean and Investment Co-ordination Minister Luhut (Luhut Binsar Pandjaitan) said in an interview on September 7 that Andrew Forrest (Andrew Forrest), Australia's largest nickel mine businessman, visited Indonesian President Zok Widodo and signed a letter of intent between the Indonesian government and Andrew during the talks. Luhute added that Andrew intends to invest in the new energy industry in Indonesia and support the Indonesian government in the environmentally friendly development of nickel resources.

[Delong stainless Steel Phase II Project Promotion Environmental impact Assessment] September 7, Jiangsu Delong Nickel Co., Ltd. stainless steel phase II project environmental impact assessment officially announced. This project is located in the existing plant area of Delong Nickel Industry, located in Xiangshui New Metal material Industry Park in Xiangshui Industrial Economic Zone. The project covers an area of about 533300 m2 with a total investment of 2.00094 billion yuan. The production capacity of this project is obtained by the reduction and replacement of 1.7 million tons of steelmaking capacity of two 60t steelmaking converters in Xuzhou Baofeng Special Steel Co., Ltd. The project intends to use Ni-Fe alloy produced by Delong Nickel Co., Ltd. in Indonesia as the main raw material, through supporting construction of smelting and refining facilities to produce high-quality stainless steel products such as 300 series high-end stainless steel, super austenitic stainless steel and duplex stainless steel.

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