Shanghai Nonferrous Metals News
China produced 32.6 kt of NPI (in Ni metal) in February 2022, up by 2.8% m-o-m but down by 13.9% y-o-y. The decline can be attributed to some high-NPI smelters in northern China, (including Shandong, IM, Liaoning and Hebei) curbing operations due to environmental rules during the Beijing Winter Games. In addition, routine maintenance by some integrated stainless steel producers constrained low-NPI production during the month.
Looking forward to March, China’s NPI output is estimated at 39.5 kt (in Ni metal), up by 2.76% m-o-m, 32.6 kt of which will be high-NPI and 7 kt will be low-NPI.