Shanghai Nonferrous Metals News
China’s NPI output dropped by 0.64% on-month but was up by 30.34% on-year to 52.4 kt (in Ni metal) during October. Most domestic NPI producers continued to operate as normal during October driven by relatively high margins. However, the overall monthly output dropped slightly as a result of the ongoing overhaul of a Jiangsu smelter and electricity supply restrictions in IM.
Looking forward to November, domestic NPI output is likely to drop by 1.81% on-month to 51.5 kt (in Ni metal), still with an increase of 23.35% on-year, as a result of capacity resumptions during the month.