Nickel Industry Annual Report 2024
2025-04-09 18:39:01 【Print】
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Content
1. Definition, classification, distribution and application 7
1.1 Definition 7
1.2 Classification 7
1.3 Distribution 7
1.4 Application 7
2. Economy and Policy 7
2.1 Chinese Market 7
2.1.1 Central bank announces simultaneous cuts in reserve requirements and interest rates 7
2.1.2 China issues four important policies related to real estate market 7
2.1.3 China's penetration rate of new energy vehicles expected to approach 40% in 2024 8
2.1.4 SHFE approves registration of two nickel cathode brands 8
2.1.5 China's mineral exploration investment rises for third year in a row 8
2.1.6 China passes revised mineral resources law 8
2.2 International Market 8
2.2.1 Indonesia mining ministry working to approve more nickel, tin quotas 8
2.2.2 Indonesia aims to finish mining output quotas approval by end-March 8
2.2.3 Indonesia issues nickel production quotas for 152.62mt 8
2.2.4 LME prohibits trading of Russian made metals 8
2.2.5 Indonesia says its nickel reserves will last until 2069 8
2.2.6 The Philippines plans to build three more nickel plants 9
2.2.7 The French government supports construction of KL1 nickel and cobalt smelter 9
2.2.8 Indonesia to put nickel industrial park construction into strategic plan 9
2.2.9 Indonesia announces nickel mining quotas for next three years 9
2.2.10 Indonesia may terminate some ferronickel production licenses 9
2.2.11 LME to stop accepting nickel deliveries from Finnish plant of Nornickel 9
2.2.12 Indonesian government agrees to suspend building new nickel smelting plants 9
2.2.13 Russia considers limiting exports of uranium, titanium and nickel 9
2.2.14 Russia increases export quotas for scrap metals outside EAEU 9
2.2.15 DOE to invest in key mineral technology projects 10
2.2.16 Indonesia weighs deep cuts to nickel mining to boost prices 10
3. Market Movements 10
3.1 Chinese Market 10
3.1.1 Nickel cathode 10
3.1.2 Ferronickel 12
3.1.3 Nickel sulfate 13
3.1.4 Lateritic nickel ore 15
4. Company News 17
4.1 Pacific Nickel delivers first batch of direct shipment ore from Kolosori project to Glencore 17
4.2 Vale plans to merge Canadian nickel project with Glencore 17
4.3 Samsung SDI subscribes to Canadian Nickel shares 17
4.4 First Quantum plans to shut down Ravensthorpe nickel operation for two years 18
4.5 Sumitomo Metal subscribes to FPX Nickel shares 18
4.6 Wyloo Metals to shut down nickel mines in Western Australia 18
4.7 Jinchuan Group takes majority stake in second biggest nickel mine in China 18
4.8 New Generation Minerals intends to acquire part of the equity of Grey Dam Nickel-Cobalt Project 18
4.9 New Generation Minerals joins hands with Altilium to build an Australian nickel plant 18
4.10 Alaska Energy Metals announces resources of Nikola Nickel Project 18
4.11 Glencore's Koniambo Nickel Mine suspended for maintenance 19
4.12 GEM's Indonesian nickel project completes basic engineering 19
4.13 Vale's Brazilian copper and nickel mines regain operating licenses 19
4.14 Glencore Anuri nickel mine put into production 19
4.15 6Mtpa nickel and copper tailings recycling project breaks ground in Jinchang 19
4.16 Vale Indonesia plans to build a nickel high-pressure acid leaching plant 19
4.17 BHP suspends partial operations at Kalgoorlie Nickel Smelter 19
4.18 Indonesia's Antam and Puqin Times cooperate to build two nickel plants 19
4.19 Glencore increases investment in Stillwater West nickel project 20
4.20 Eramet signs agreement with government to save New Caledonia nickel production line 20
4.21 Tinar plans to restart Spain's Agua Blanca nickel-copper mine 20
4.22 Yantai Cash suspends electrowinning nickel production 20
4.23 Canada Nickel acquires Noble's Mann Project 20
4.24 Eramet's New Caledonia nickel mining business suspended 20
4.25 Ardea, Sumitomo and Mitsubishi form joint venture to build Kalgoorlie Nickel Project 20
4.26 Vale Indonesia receives new nickel mining license 21
4.27 First Quantum Western Australia Nickel Mine Shut Down for Maintenance 21
4.28 Zimbabwe to rebuild the country's only nickel mine 21
4.29 Zhongchen New Energy to build ternary materials hydrometallurgy recycling project 21
4.30 Stellantis to cooperate with Huayou Cobalt and Vale to build a nickel plant in Indonesia 21
4.31 120ktpa NCM precursor production line reaches full capacity in Ningde 21
4.32 Indonesia Zhongwei Dingxing nickel cathode registered as LME nickel delivery brand 21
4.33 Ganzhou Hanrui to upgrade electrowinning nickel and cobalt project 21
4.34 Vale to expand copper-nickel production capacity 22
4.35 Eramet and BASF cancel Indonesian nickel-cobalt refinery project 22
4.36 Huaxin Cobalt completes nickel sulfate equipment commissioning 22
4.37 Nornickel to restart Nadezhda smelter furnace 22
4.38 Africa's largest nickel mine starts commercial production 22
4.39 Lifezone Metals' Tanzania nickel-copper-cobalt project produces first metal 22
4.40 XTC New Energy to invest in precursor project in France 22
4.41 Xinjiang Xinxin Mining halted production of electrowinning nickel 22
4.42 Tengyuan Cobalt to build refined nickel and cobalt project 23
4.43 Vale Indonesia's Pomalaa nickel plant is expected to start production in 2026 23
4.44 Koniambo Nickel shuts down smelter operations 23
4.45 Evergreen New Energy formally sees first batch of nickel sulfate off line 23
4.46 Neo Energy Indonesia high pressure acid leaching nickel plant breaks ground 23
4.47 Sumitomo Corporation Madagascar Nickel Project resumes production 23
4.48 GEM and Vale Indonesia sign nickel ore smelter investment agreement 23
4.49 Jiangxi Yunqi to build 7ktpa ternary precursor project 24
4.50 Prony Resources to restart New Caledonia nickel plant 24
4.51 Yinyi Advanced Material restarts nickel cathode production 24
4.52 Grid Metals and Teck Resources sign agreement to fund Mawka Nickel Project 24
4.53 Sumitomo Metal Mining and Hyuga Smelting to build new high-grade nickel matte production facility 24
5. Producers Statistics 24
5.1 Chinese nickel cathode producers statistics 24
5.1.1 Chinese nickel cathode producers' capacity up by 23.49% YOY in 2024 24
5.1.2 Chinese nickel cathode producers' average operating rate was 74.49% in 2024 24
5.1.3 Chinese nickel cathode producers' output up by 31.98% YOY in 2024 25
5.1.4 Chinese nickel cathode producers' stocks up by 30.05% YOY in 2024 25
5.2 Chinese ferronickel producers statistics 25
5.2.1 Chinese ferronickel producers' capacity down by 7.06% YOY in 2024 25
5.2.2 Chinese ferronickel producers' average operating rate was 40.68% in 2024 25
5.2.3 Chinese ferronickel producers' output down by 19.46% YOY in 2024 25
5.2.4 Chinese ferronickel producers' average stocks down by 27.91% YOY in 2024 26
5.3 Chinese nickel sulfate producers statistics 26
5.3.1 Chinese nickel sulfate producers' production capacity down by 23.03% YOY in 2024 26
5.3.2 Chinese nickel sulfate producers' average operating rate was 35.62% in 2024 26
5.3.3 Chinese nickel sulfate producers' output down by 34.94% YOY in 2024 26
5.3.4 Chinese nickel sulfate producers' inventory down by 54.33% YOY in 2024 26
6. Customs Statistics 27
6.1 China's ferronickel imports up by 6.24% YOY in 2024 27
6.2 China's nickel ore imports down by 15.00% YOY in 2024 27
6.3 China's refined nickel imports up by 7.03% YOY in 2024 27
7. Outlook for supply and demand 27
7.1 Nickel Cathode 27
7.2 Ferronickel 27
7.3 Nickel sulfate 27
7.4 Lateritic nickel ore 28
1. Definition, classification, distribution and application 7
1.1 Definition 7
1.2 Classification 7
1.3 Distribution 7
1.4 Application 7
2. Economy and Policy 7
2.1 Chinese Market 7
2.1.1 Central bank announces simultaneous cuts in reserve requirements and interest rates 7
2.1.2 China issues four important policies related to real estate market 7
2.1.3 China's penetration rate of new energy vehicles expected to approach 40% in 2024 8
2.1.4 SHFE approves registration of two nickel cathode brands 8
2.1.5 China's mineral exploration investment rises for third year in a row 8
2.1.6 China passes revised mineral resources law 8
2.2 International Market 8
2.2.1 Indonesia mining ministry working to approve more nickel, tin quotas 8
2.2.2 Indonesia aims to finish mining output quotas approval by end-March 8
2.2.3 Indonesia issues nickel production quotas for 152.62mt 8
2.2.4 LME prohibits trading of Russian made metals 8
2.2.5 Indonesia says its nickel reserves will last until 2069 8
2.2.6 The Philippines plans to build three more nickel plants 9
2.2.7 The French government supports construction of KL1 nickel and cobalt smelter 9
2.2.8 Indonesia to put nickel industrial park construction into strategic plan 9
2.2.9 Indonesia announces nickel mining quotas for next three years 9
2.2.10 Indonesia may terminate some ferronickel production licenses 9
2.2.11 LME to stop accepting nickel deliveries from Finnish plant of Nornickel 9
2.2.12 Indonesian government agrees to suspend building new nickel smelting plants 9
2.2.13 Russia considers limiting exports of uranium, titanium and nickel 9
2.2.14 Russia increases export quotas for scrap metals outside EAEU 9
2.2.15 DOE to invest in key mineral technology projects 10
2.2.16 Indonesia weighs deep cuts to nickel mining to boost prices 10
3. Market Movements 10
3.1 Chinese Market 10
3.1.1 Nickel cathode 10
3.1.2 Ferronickel 12
3.1.3 Nickel sulfate 13
3.1.4 Lateritic nickel ore 15
4. Company News 17
4.1 Pacific Nickel delivers first batch of direct shipment ore from Kolosori project to Glencore 17
4.2 Vale plans to merge Canadian nickel project with Glencore 17
4.3 Samsung SDI subscribes to Canadian Nickel shares 17
4.4 First Quantum plans to shut down Ravensthorpe nickel operation for two years 18
4.5 Sumitomo Metal subscribes to FPX Nickel shares 18
4.6 Wyloo Metals to shut down nickel mines in Western Australia 18
4.7 Jinchuan Group takes majority stake in second biggest nickel mine in China 18
4.8 New Generation Minerals intends to acquire part of the equity of Grey Dam Nickel-Cobalt Project 18
4.9 New Generation Minerals joins hands with Altilium to build an Australian nickel plant 18
4.10 Alaska Energy Metals announces resources of Nikola Nickel Project 18
4.11 Glencore's Koniambo Nickel Mine suspended for maintenance 19
4.12 GEM's Indonesian nickel project completes basic engineering 19
4.13 Vale's Brazilian copper and nickel mines regain operating licenses 19
4.14 Glencore Anuri nickel mine put into production 19
4.15 6Mtpa nickel and copper tailings recycling project breaks ground in Jinchang 19
4.16 Vale Indonesia plans to build a nickel high-pressure acid leaching plant 19
4.17 BHP suspends partial operations at Kalgoorlie Nickel Smelter 19
4.18 Indonesia's Antam and Puqin Times cooperate to build two nickel plants 19
4.19 Glencore increases investment in Stillwater West nickel project 20
4.20 Eramet signs agreement with government to save New Caledonia nickel production line 20
4.21 Tinar plans to restart Spain's Agua Blanca nickel-copper mine 20
4.22 Yantai Cash suspends electrowinning nickel production 20
4.23 Canada Nickel acquires Noble's Mann Project 20
4.24 Eramet's New Caledonia nickel mining business suspended 20
4.25 Ardea, Sumitomo and Mitsubishi form joint venture to build Kalgoorlie Nickel Project 20
4.26 Vale Indonesia receives new nickel mining license 21
4.27 First Quantum Western Australia Nickel Mine Shut Down for Maintenance 21
4.28 Zimbabwe to rebuild the country's only nickel mine 21
4.29 Zhongchen New Energy to build ternary materials hydrometallurgy recycling project 21
4.30 Stellantis to cooperate with Huayou Cobalt and Vale to build a nickel plant in Indonesia 21
4.31 120ktpa NCM precursor production line reaches full capacity in Ningde 21
4.32 Indonesia Zhongwei Dingxing nickel cathode registered as LME nickel delivery brand 21
4.33 Ganzhou Hanrui to upgrade electrowinning nickel and cobalt project 21
4.34 Vale to expand copper-nickel production capacity 22
4.35 Eramet and BASF cancel Indonesian nickel-cobalt refinery project 22
4.36 Huaxin Cobalt completes nickel sulfate equipment commissioning 22
4.37 Nornickel to restart Nadezhda smelter furnace 22
4.38 Africa's largest nickel mine starts commercial production 22
4.39 Lifezone Metals' Tanzania nickel-copper-cobalt project produces first metal 22
4.40 XTC New Energy to invest in precursor project in France 22
4.41 Xinjiang Xinxin Mining halted production of electrowinning nickel 22
4.42 Tengyuan Cobalt to build refined nickel and cobalt project 23
4.43 Vale Indonesia's Pomalaa nickel plant is expected to start production in 2026 23
4.44 Koniambo Nickel shuts down smelter operations 23
4.45 Evergreen New Energy formally sees first batch of nickel sulfate off line 23
4.46 Neo Energy Indonesia high pressure acid leaching nickel plant breaks ground 23
4.47 Sumitomo Corporation Madagascar Nickel Project resumes production 23
4.48 GEM and Vale Indonesia sign nickel ore smelter investment agreement 23
4.49 Jiangxi Yunqi to build 7ktpa ternary precursor project 24
4.50 Prony Resources to restart New Caledonia nickel plant 24
4.51 Yinyi Advanced Material restarts nickel cathode production 24
4.52 Grid Metals and Teck Resources sign agreement to fund Mawka Nickel Project 24
4.53 Sumitomo Metal Mining and Hyuga Smelting to build new high-grade nickel matte production facility 24
5. Producers Statistics 24
5.1 Chinese nickel cathode producers statistics 24
5.1.1 Chinese nickel cathode producers' capacity up by 23.49% YOY in 2024 24
5.1.2 Chinese nickel cathode producers' average operating rate was 74.49% in 2024 24
5.1.3 Chinese nickel cathode producers' output up by 31.98% YOY in 2024 25
5.1.4 Chinese nickel cathode producers' stocks up by 30.05% YOY in 2024 25
5.2 Chinese ferronickel producers statistics 25
5.2.1 Chinese ferronickel producers' capacity down by 7.06% YOY in 2024 25
5.2.2 Chinese ferronickel producers' average operating rate was 40.68% in 2024 25
5.2.3 Chinese ferronickel producers' output down by 19.46% YOY in 2024 25
5.2.4 Chinese ferronickel producers' average stocks down by 27.91% YOY in 2024 26
5.3 Chinese nickel sulfate producers statistics 26
5.3.1 Chinese nickel sulfate producers' production capacity down by 23.03% YOY in 2024 26
5.3.2 Chinese nickel sulfate producers' average operating rate was 35.62% in 2024 26
5.3.3 Chinese nickel sulfate producers' output down by 34.94% YOY in 2024 26
5.3.4 Chinese nickel sulfate producers' inventory down by 54.33% YOY in 2024 26
6. Customs Statistics 27
6.1 China's ferronickel imports up by 6.24% YOY in 2024 27
6.2 China's nickel ore imports down by 15.00% YOY in 2024 27
6.3 China's refined nickel imports up by 7.03% YOY in 2024 27
7. Outlook for supply and demand 27
7.1 Nickel Cathode 27
7.2 Ferronickel 27
7.3 Nickel sulfate 27
7.4 Lateritic nickel ore 28
