HONG KONG Chinas largest nickel producer, Jinchuan Group Co. Ltd., plans to increase its nickel output 11 percent this year.
We plan to raise our nickel production to 150,000 tonnes in 2013, vice general manager Simon Bao said.
The Jinchang City, China -based company produced 135,000 tonnes of nickel in 2012 and 130,000 tonnes in 2011.
Bao added that he expects the global nickel market to be in surplus at least for the next two years. We hope there will be a balance in 2015 or 2016, he said.
Jinchuan has set a revenue target of 175 billion yuan ($27.86 billion) this year, up from 157 billion yuan in 2013.
A version of this article was first published by AMM sister publication Metal Bulletin.