Refined Nickel Output Expected to Extend Increase in Feb

SHANGHAI, Feb 8 (SMM) - China's output of refined nickel totalled 16,400 mt in January 2023, a decrease of 1.5% month-on-month and a year-on-year increase of 37.24%.

Despite the Chinese New Year break, mainstream refined nickel smelters maintained normal production during the holiday through shift work, according to SMM survey, so a significant decline in refined nickel output was avoided.

Additionally, some refined nickel enterprises decide to ramp up the production in 2023 to ensure downstream rigid demand, and some new some new capacity is already put into production in early January on high premiums of refined nickel.  

It is thus estimated that the domestic output of refined nickel in February 2023 will rise 3.05% month-on-month to 16,900 mt, up 30.8% year-on-year.