Domestic High-NPI Production Down Slightly in August
31/08/23 | Nickel
Shanghai Nonferrous Metals News Domestic high-NPI production slid slightly in August due to higher production costs in light of increased nickel laterite prices from Indonesia, seeing domestic high-NPI (8~12 % Ni) prices lift to RMB 1,175/Ni unit. However, downstream demand from stainless steel smelters was relatively weak, which is likely…
Mg Prices to Remain Stable at RMB 22,700/t Level
29/08/23
China Nonferrous Metals News Domestic magnesium prices soared rapidly to RMB 23,000/t level last Wednesday, however prices have been under pressure since Thursday as tepid demand failed to prop prices at the high-end. As of Friday, mainstream magnesium prices in Fugu Shaanxi were being quoted at RMB 22,700~22,800/t with transaction…
Indonesian Ni Laterite and NPI Prices Up
28/08/23
Shanghai Nonferrous Metals News Nickel laterite prices in Indonesia have risen rapidly by approximately 10% in the past few weeks with the ongoing investigation into illegal mining started in June interrupting mining operations. Buoyed by rising nickel laterite prices, high-NPI prices in Indonesia rose to RMB 1,175/nickel unit (USD 161/nickel…
Domestic Mg Transactions Slow since Wednesday
25/08/23 | Magnesium
Asian Metal News 24th August: Domestic magnesium prices fell slightly by RMB 100/t from Monday to RMB 22,700~23,000/t but transactions have been slow since Wednesday as most buyers finished restocking early this week. Industry commentators forecast domestic magnesium prices will continue stable at low levels next week. A northern smelter…
CAAM: New Car Production & Sales Drop in July
14/08/23 | EV
CAAM News CAAM (China Association of Automobile Manufacturers): China produced 2.4 mln new cars and sold 2.39, down by 6.2% and 9% m-o-m and down by 2.2% and 1.4% y-o-y respectively. During the first seven months of 2023, China’s car production and sales were 15.65 mln and 15.63 mln, up…
Domestic Mg Transactions Slow
11/08/23 | Magnesium
Asian Metal News Domestic magnesium transactions have slowed since prices rebounded to RMB 21,700 ~22,100/t level ex-works on Wednesday, up by RMB 600/t from last Friday. Most magnesium smelters are holding firm on prices given limited stocks. A northern smelter sold 62 t of magnesium at RMB 21,800/t on Tuesday,…
China Produces 15.8 kt of FeMo in July 2023
10/08/23 | Molybdenum
Shanghai Nonferrous Metal News China produced 15.8 kt of FeMo in July 2023, down by 4% m-o-m. The decline can be attributed to FeMo producers running at only 60~80% operational rates to mitigate the risks coming from high molybdenum concentrate prices. Some FeMo producers ran maintenance in July, resulting in…
Ningxia: “Implementation Measure for High Energy Consumption and High Emission Projects”
10/08/23
Cnal News Ningxia has released, “Implementation Measure for High Energy Consumption and High Emission Projects”. The policy stipulates: Strict implementation of production capacity, energy consumption, and pollutant reduction-replacement scheme for new and expanded high energy consumption and high emission projects. For new/expansion primary aluminium projects, the replacement ratio is set…
China Mg Production 50.9 kt in July
10/08/23 | Magnesium
Shanghai Nonferrous Metals News China produced 50.9 kt of magnesium ingot in July 2023, down by 3.14% m-o-m and down by 26.48% y-o-y. China’s magnesium alloy production was 26 kt in July, up by 1.23% m-o-m but down by 6.88% y-o-y. China produced 54 kt of magnesium powder in July,…
