Ferro Nickel Price Analysis in 2024

High Nickel Ferro Nickel

This month steel inquiries are more positive, the overall market activity is more general, pure nickel prices rose, factories and traders actively support prices, high nickel ferro nickel transaction prices rose. Early this month, some special steel plant inquiry raw materials, high nickel iron prices strong, mid-south China a steel plant high nickel ferro nickel purchase price of 975-980 yuan/nickel (including tax), low P, low S small single transaction price up to 1010 yuan/nickel (including tax), high nickel ferro nickel transaction price up, At the end of the month, the transaction price of high nickel iron in individual factories rose to 1010-1020 yuan/nickel (factory tax included), the purchase price of high nickel ferro nickel in South China steel plant rose to 995-1000 yuan/nickel (factory tax included), high nickel ferro nickel factory external offer rose to 1030 yuan/nickel (factory tax included), high nickel ferro nickel prices are strong.

Ferro Nickel 
Nickel metal
metallic nickel

Indonesia: Lun nickel prices remain high, nickel ore benchmark prices rose in June; Nickel ore quota approval process is still slow, nickel ore supply tight situation to maintain, at the end of the month the market mainstream factory nickel ore purchase price rose to the benchmark price +12 ~ 13 US dollars/wet ton, Indonesia iron production costs rise; In April, the domestic import of Indonesian nickel iron 703,200 tons of physical tons, and the overseas iron return flow is in a low position. Domestic: slow progress of factory resumption; In May and June, 300 series stainless steel production continued to maintain a high level, high nickel iron demand is better, some integrated steel mills high nickel iron production decreased, high nickel iron demand increased. It is expected that high nickel iron prices in the near future still have upside.

Low nickel iron prices rose this month. This month, there is no big change in the domestic supply and demand of low nickel iron, 200 series prices are strong, individual steel mill bidding prices are rising, low nickel iron prices are expected to be stable in the near future.

Ferro Nickel Price

Product brand on April 30, May 31, up and down remarks

High nickel iron NI8-10% 960-965 995-1000 ↑35 yuan/nickel, including tax

Indonesia nickel iron NI10-15% 965 1000 ↑35 yuan/nickel, bilge tax included

Low nickel iron NI1.5-1.8% 4000-4100 4000-4200 ↑50 yuan/ton, including tax

Second, nickel-iron production, start-up, production capacity release

Ferro Nickel Production

Total nickel-iron production in May is estimated at 26,315 metal tonnes, up 909 metal tonnes or 4% from 25,406 metal tonnes (revised) in April. Among them, the estimated production of high nickel iron in May is about 18,828 metal tons, an increase of 930 metal tons from 17,897 metal tons in April (revised), an increase of about 5%; Low nickel iron production in May is estimated to be about 7488 metal tonnes, down 21 metal tonnes, or about 0.3%, from 7509 metal tonnes in April (revised).

In May, some factories in Inner Mongolia and Jiangsu resumed production, the production of high nickel iron increased, and the production of low nickel iron was little changed from the previous month.

In May, the operating rate of nickel-iron plants in various regions was as follows: 25% flat in non-main production areas, 60% increased by 40% in Jiangsu, 17% flat in Liaoning, 83% flat in southern China, 50% flat in Inner Mongolia, and 50% flat in Shandong. A total of 35 companies were counted and 19 started, with a total operating rate of 54%, an increase of 3% over the previous month.

In May, a high-nickel iron plant in Jiangsu resumed production, and the operating rate increased, while the operating rate remained flat in the remaining regions.

Ferro Nickel Production Capacity

Statistics in May nickel-iron production capacity of about 89,000 metal tons, the average release rate of 31%, the total release of 48%, the same as in April. The production capacity release rate of each production area is as follows: 10% of non-main production area is flat; Jiangsu region 28% increased by 4%; Liaoning region 18 flat; In southern China, 73% remained flat; Inner Mongolia 17% increased by 2%; In Shandong, 39% remained flat.

In May, some overhauled furnaces in Jiangsu and Inner Mongolia resumed production, nickel-iron production increased, the release rate increased, and the release rate remained flat in the remaining areas.

Stainless Steel

This month, especially the stainless steel futures market fluctuations, the beginning of the month by the macro policy and Shanghai nickel prices boosted, stainless steel plate prices rose significantly, the spot market trading atmosphere is also encouraged, downstream procurement sentiment increased. In the middle of the year, due to the rise in raw material prices to form cost support for steel prices, steel mills have a strong price mentality, but the market arrival volume has increased significantly and the end customer’s enthusiasm for receiving orders is not strong, and steel prices have fallen. In the second half of the real estate macro favorable policy to stimulate the stainless steel futures prices to strongly pull up, but the spot market trading performance has always been flat, suppliers in order to achieve the purpose of trading, the price to move to the low.

High Nickel Ferro Nickel Market

High nickel iron: the cost is rising, factories and traders have strong willingness to price, 300 series stainless steel production remains high, demand is good, it is expected that high nickel iron prices still have upside.

Low nickel iron: there is little change in supply and demand, and the probability of low nickel iron price stability is greater.

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