Shanghai Nonferrous Metals News
SMM: China produced 35.7 kt of NPI (in Ni metal) in October 2022, up by 14.2% m-o-m and up by 14.6% y-o-y. The demand for NPI rose rapidly boosted by increased operations of downstream stainless steel smelters in the wake of soaring prices and higher profit margins. High-NPI production gained by 14.6% m-o-m to 28.1 kt and low-NPI lifted by 7.78% m-o-m to 7.5 kt in October 2022.
SMM analysts forecast domestic NPI production to rise ty 6.12% m-o-m to 37.9 kt (in Ni metal) in November, with growth chiefly led by new capacity coming online from integrated producers.
