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|China's Domestic Nickel Production Falls - September 2012|
|= Down 6% from August due to still weak demand and summer curtailment =|
According to National Bureau of Statistics of China, production of nickel by the nickel producing plants located in China during September 2012 was 23,129.4 tons (of nickel content), down 5.8% from 24,542.5 tons in the preceding month due to the continued weak demand and summer curtailment, but up 29.0% compared to the same month of 2011 basically because of the power shortage during summer causing lower output of high power-consuming products.|
The price of ferronickel rose a little, by RMB20 - 40/mtu, during September in Inner Mongolia for Ni: 10 - 15% material, tax prepaid and ex. works reflecting the nickel price rise in LME, however, the price for nickel-pig-iron actually declined in September by RMB50 - 150/ton in Zhejiang/Shandong for Ni: 1.6 - 1.8% material, tax prepaid and ex. works, as NPIs contain much lower nickel and affected more by the actual weak demand.
One thing that has to be noted is that the past data published by the Bureau seem to have been corrected due to unknown reasons. The most recently published data show that the nickel output during the first nine months (January - September) of 2012 was 144,706.5 tons (up 2.5% from the same period of 2011), while the same for the first eight months (January - August) of 2012 in the data published one month ago was 145,726.5 tons (down 1.8%).
According to a local source in China, total quayside stocks of nickel ore at major Chinese ports as of end-September were 17.33 million tons of which breakdown by port was as follows, <> Lianyungang: 2.52 million tons, <> Tianjin: 5.42 million tons, <> Rizhao: 2.28 million tons, <> Lanshan: 2.43 million tons, <> Fangcheng: 0.75 million tons, <> Jingtao: 3.80 million tons, and <> Zhangjiang: 0.13 million tons. The stocks as of October 19 were 17.62 million tons, a little up.
|last modified : Mon 29 Oct, 2012 [13:35]|