China's nickel output to rise up to 200,000 mt in 2007: Antaike
Singapore (Platts)--30Mar2007
Beijing's Antaike forecast China's nickel output at 190,000-200,000 mt in
2007, up from the around 140,000 mt produced in 2006, an official from the
state nonferrous metals information division said to Platts.
"There are no new major nickel projects in 2007, just Jinchuan, who has
an expansion plan," the official added.
Officials from Jinchuan declined to comment on this expansion. The
company, which accounts for about 90% of China's total nickel output, has a
production capacity of 130,000 mt/year currently. According to its website, it
is in the process to raise its production capacity of electrolytic nickel to
150,000 mt/year by 2010.
Meanwhile, the Antaike official also forecast China's demand for nickel
to grow 20% to 300,000 mt in 2007, from 250,000 mt in 2006 on the back of
higher demand for stainless steel with production expected to rise to 7.2
million mt in 2007 from 5.3 million mt in 2006.
In view of the strong demand of nickel for stainless steel production,
the official expects domestic nickel prices to continue its upward trend in
2007, growing say about 12%. The official said current domestic nickels are
about "Yuan Forty plus thousand" ex-plant.
According to the Antaike website, domestic nickel prices are quoted (as
at March 21, 2007) at Yuan 428,000-430,000($55,363-55,622)/mt ex plant
(Huatong) and Yuan 428,500-430,500/mt ex plant (Changjiang), while Jinchuan's
prices are Yuan 372,000/mt ex plant for the full plate material and Yuan
373,200/mt ex plant for its 4X4 material (both prices have been effected March
23, 2007). The LME official cash price prices for nickel was $45,550-45,600/mt
Thursday.
Meanwhile, China's unwrought nickel imports in February 2007 totaled
12,087 mt, which is up 24% from the 9,735 mt imported in January, the figures
showed. Nickel imports year-to-date totaled 218,223 mt. For February 2007,
China also exported 1,831 mt of unwrought nickel, down marginally from 2,836
mt exported in January. Total unwrought nickel exported in January-February
was 46,666 mt.
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