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Global nickel smelting activity declined in May
In nickel, the global dispersion index fell to 41.8 in May from 43.3 in April despite gains in China. A measure of 50 points indicates that smelters are operating at the average level of the past 12 months.
The Chinese nickel pig iron (NPI) index bounced to 47.1 in May from 37.9 in April, its lowest since February 2022.
Outside of China, ferronickel operations continued to struggle due to increased competition from NPI, a lower-nickel-content substitute for refined nickel, and high electricity costs in Europe, the statement said.
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- [Editor:邢亞敏]
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