Shanghai Nonferrous Metals News
Domestic high NPI output remained stable in December 2018. One large-scale NPI producer in Eastern China brought a 48,000 kVA furnace online in early December 2018, and is now generating output with the result of leveraging up overall domestic output for January.
High-NPI imports from Indonesia are in decline. In October-November, an Indonesian steel mill cut production, which led to an excess of NPI exports to the Chinese market. After resuming production in December, all NPI produced by the mill will be consumed in Indonesia.
According to SMM, domestic high-NPI output appears tight, with some NPI smelters having contracts up to March 2019. In the short-term, high-NPI supply will remain short, maintaining a high premium over electrolytic nickel before new capacity in both China and Indonesia generates solid output.
