Japan's Sumitomo Corporation recently released its production report for the fourth quarter of 2025 (the third quarter of fiscal year 2025). The company's Ambatovy project in Madagascar produced approximately 8,400 tonnes of refined nickel (nickel briquettes) in Ni. content, representing a decrease of 6.67% compared to the previous quarter but an increase of 20.00% year-on-year. This includes 4,400 tonnes from its own share and 4,000 tonnes attributable to the Korean consortium.
Following the comprehensive inspection of the slurry pipeline completed in the fourth quarter of fiscal year 2024, the operation began gradually increasing its load in April 2025 under strict safety assurances, achieving stable full-capacity operation by early May. It then entered a planned shutdown for maintenance in November as scheduled. Production during the reporting period was largely in line with the plan and exceeded the level of the same period in fiscal year 2024.
Compared to the outlook in October, cobalt (a by-product) prices remained high. Nickel prices, while still below earlier forecasts, showed an upward trend from mid-December. Prices of auxiliary materials such as sulfur continued their rising trend.
Written by Cora Ji, jiruyan@mysteel.com
