Jien Nickel (600432.SH) announced on Thursday that the company and its shareholder HOROC will cut nickel output by 3,000 metric tons (tonnes) in December to support the initiative launched by major nickel producers.
Nickel producers in China reached a consensus to cut nickel output in 2016 by 20 percent, the cnstock.com reported on Monday. Jinchuan Group Co., Ltd recently launched an initiative with other seven nickel producers in China to cut nickel output by 15,000 metric tons (tonnes) in December and more than 20 percent in 2016. Jien Nickel said that it will cut output in 2016 by more than 20 percent based on market situation.
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