Monthly Nickel Market Report May 2024

Content
1. Market Highlights 4
2. Economy and Policy 4
2.1 China issues four important policies related to real estate market 4
2.2 China's penetration rate of new energy vehicles expected to approach 40% in 2024 4
3. Market Movement 4
3.1 Chinese Market Movements 4
3.1.Asian Metal Copyright1.Asian Metal Copyright1 Chinese nickel cathode 99.96%min EXW China 4
3.1.Asian Metal Copyright4%max delivered China 4 3.Asian Metal Copyright2 Norilsk nickel cathode 99.96%min in port China 4
3.1.Asian Metal Copyright1 Nickel cathode 99.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 4
3.1.Asian Metal Copyright3 China's nickel sulphate import volume rose 466.Asian Metal Copyright4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 5
3.1.5 Ferronickel 10%min EXW China 5
3.1.Asian Metal Copyright24% MoM in May 8 5.Asian Metal Copyright6 Ferronickel 1.5%min EXW China 5
3.2 International Market Movements 5
3.2.Asian Metal Copyright3 Nickel sulfate Ni 22%min, Co 0.Asian Metal Copyright1 Philippine lateritic nickel ore 1.3%min CIF China 5
3.2.Asian Metal Copyright05%max EXW China 15 8.Asian Metal Copyright2 Philippine lateritic nickel ore 1.8%min CIF China 6
4. Company News 6
4.1 Huayi Chemical to resume nickel sulfate production 6
4.2 Maolian Technology suspends electrowinning nickel production 6
4.3 Shunying Power Battery Material resumes battery grade nickel sulfate production 6
4.4 Yinyi Advanced Material to decrease nickel sulfate production 6
4.5 Greatpower Technology upgrades nickel sulfate production equipment 6
4.6 Heyi Ni-Cr Composite Materials raises ferronickel output 6
4.7 Guanghua Technology cuts electroplating grade nickel sulfate output 6
4.8 Risbor New Energy cuts battery grade nickel sulfate output 7
4.9 Xingnie New Materials decreases production of electroplating grade nickel sulfate 7
4.10 Xi'en New Materials increases battery grade nickel sulfate production 7
4.11 Huiran Industry reaches full capacity operation for ferronickel 7
4.12 Grand Green Technology suspends electrowinning nickel production 7
5. Producers Statistics 7
5.1 Chinese refined nickel producers' operating rate records 70.61% in May 7
5.2 Chinese refined nickel producers' production down by about 4.17% MoM in May 7
5.3 Chinese refined nickel producers' stocks up by about 0.49% MoM in May 7
5.4 Chinese nickel sulfate producers' operating rate posts 51.47% in May 8
5.5 Chinese nickel sulfate producers' output down by about 1.88% MoM in May 8
5.6 Chinese nickel sulfate producers' inventory down by about 12.24% MoM in May 8
5.7 Chinese ferronickel producers' operating rate reports 34.45% in May 9
5.8 Chinese ferronickel producers' output up by about 2.95% MoM in May 9
5.9 Chinese ferronickel producers' stocks down by about 20.56% MoM in late May 10
6. Import and Export Statistics 10
6.1 China's ferro-nickel import volume increased 14.27% MoM in Apr 2024 10
6.2 China's refined nickel (Co＞0.Asian Metal Copyright61% in May 7 5.Asian Metal Copyright005%) import volume increased 154.49% YoY in Apr 2024 11
6.3 China's nickel sulphate import volume rose 466.42% YoY in Apr 2024 12
6.4 China's refined nickel (Co＞0.Asian Metal Copyright1 Chinese nickel cathode 99.Asian Metal Copyright005%) export volume rose 299.09% YoY in Apr 2024 13
6.5 China's nickel concentrate import volume increased 90.78% MoM in Apr 2024 14
7. Relevant Industry Movements 15
7.1 NCM and power battery market 15
7.2 Stainless steel market 15
8. Market Outlook for Next Month 15
8.1 Nickel cathode 99.96%min EXW China 15
8.2 Norilsk nickel cathode 99.96%min in port China 15
8.3 Nickel sulfate Ni 22%min, Co 0.4%max delivered China 15
8.4 Nickel sulfate Ni 22%min, Co 0.05%max EXW China 15
8.5 Ferronickel 10%min EXW China 15
8.6 Ferronickel 1.5%min EXW China 15
8.7 Philippine lateritic nickel ore 1.3%min CIF China 15
8.8 Philippine lateritic nickel ore 1.8%min CIF China 15


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