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Copper Cathode Production in March Far Exceeded Expectations, and April Output Only Slightly Declined [SMM Analysis]
In March 2025, the national refined nickel production increased by 22.32% MoM and 39.12% YoY.

【SMM Analysis: In March 2025, China's refined nickel production increased by 22.32% MoM and 39.12% YoY】In March 2025, China's refined nickel production increased by 22.32% MoM and 39.12% YoY. The operating rate in the industry was 65%, up 11% MoM. With the increase in production days in March, the operating rate of enterprises improved, leading to supply growth.
【Exhibitor Recommendation】Vic Machinery Equipment Confirms Attendance at AICE 2025 Aluminum Industry Expo
【Exhibitor Recommendation】Five Star Aluminum Confirms Attendance at AICE 2025 Aluminum Industry Expo
【Exhibitor Recommendation】Shuangli Aluminum Industry Confirms Attendance at AICE 2025 Aluminum Industry Expo

Exchange Rate

USD / CNY Mar.31

7.2752 (+0.0030 | +0.0400%)
EUR / CNY Mar.31

7.9023 (+0.0207 | +0.2700%)
GBP / CNY Mar.31

9.4480 (-0.0071 | -0.0800%)
HKD / CNY Mar.31

0.9351 (+0.0001 | +0.0100%)
100JPY / CNY Mar.31

4.8862 (+0.0534 | +1.1200%)

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