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|China Nickel Production Up - August 2012|
|= 24,543 tons, up 21% from July =|
According to National Bureau of Statistics of China, production of nickel in August 2012 was 24,542.5 tons (of nickel content), the highest monthly record this year, up 20.7% from 20,341.3 tons in the preceding month, and up 21.7% compared to the same month of 2011.|
The price of ferronickel declined a little, by RMB20/mtu, during August (in Inner Mongolia, for Ni: 10 - 15%, tax prepaid and ex. warehouse), but nickel production in China actually increased, most probably due to the lowered power rates (from the lower coal prices) and/or the subsidial support (in Inner Mongolia) both for heavy power users including the nickel producers, cutting production costs and helping them to increase output.
Output during the eight-month period (January - August) of 2012 was 145,726.5 tons, down 1.8% from the same period of 2011.
According to a local source in China, total quayside stocks of nickel ore at major Chinese ports as of end-August were 18.98 million tons of which breakdown by port are as follows, <> Lianyungang: 3.16 million tons, <> Tianjin: 5.35 million tons, <> Rizhao: 2.05 million tons, <> Lanshan: 2.15 million tons, <> Fangcheng: 0.65 million tons. On September 11, the stocks a little decreased to 18.73 million tons.
|last modified : Thu 20 Sep, 2012 [16:36]|