Platts reported that China's largest nickel producer Jinchuan Group has lowered domestic prices for both electrolytic nickel in drum and full plate by CNY 18,000 per tonne each, with effect from December 7th 2007.

Jinchuan price for electrolytic nickel in drum is now CNY 234,200 per tonne ex plant down by 7% from CNY 252,200 per tonne ex plant, which was effective November 28. Its full plate material is CNY 233,000 per tonne ex plant down by 7% from CNY 251,000 per tonne ex plant effective November 28th 2007.

Jinchuan has a capacity of 150,000 tonne per year and accounts for about 90% of China's total nickel output. The company expects to produce 110,000 tonne of nickel metal in 2007 up by 7.8% from 2006.