Proportion of New Electrodeposited Nickel Capacity will be 18.6% in 2023, and to Grow Further to 27.6% in 2024

Published: Feb 17, 2023 16:32

Source: SMM

Save

According to SMM research, in 2023, China's refined nickel production capacity will total 275,100 mt, of which the new electrodeposited nickel capacity will be 51,300 mt, accounting for 18.65% of the toal.

SHANGHAI, Feb 17 (SMM) - According to SMM research, in 2023, China's refined nickel production capacity will total 275,100 mt, of which the new electrodeposited nickel capacity will be 51,300 mt, accounting for 18.65% of the toal. In 2024, the new electrodeposited nickel production capacity will be further expanded. It is conservatively estimated that China's total refined nickel production capacity will total 309,100 mt in 2024, of which the new electrodeposited nickel capacity will expand to 85,300 mt, accounting for 27.6% of the total. In addition, there are also new refined nickel projects overseas in 2023. According to SMM research, in 2023, the new global electrodeposited nickel production capacity will account for 8.2% of the total refined nickel production capacity. In 2024, the new global electrodeposited nickel production capacity will account for 10.26% of the total, which is mainly contributed by the production lines in China. From 2023 to 2024, the volume of newly added refined nickel capacities at home and abroad is huge, and the supply and demand of refined nickel will change in the future.

Market Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

22 hours ago

High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip

[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.

22 hours ago

High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches

[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.

22 hours ago

Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu

[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.

22 hours ago