Shanghai Nonferrous Metals News

SMM: China produced 37.3 kt of NPI (in Ni metal) in December 2020, down 12.5% m-o-m. A large high-NPI smelter in eastern China cut operations by 50% in December, while other smelters cut or suspended operations amid tightening raw material supply. A glut in NPI supply and low restocking interest from stainless steel smelters during December also contributed to the monthly decline.

SMM forecast domestic NPI output to fall further to 36.2 kt (in Ni metal) in January 2021.


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