[ferro-alloys.com]Production of finished nickel reached 58,600 t in 1Q18 mainly reflecting Vale’s rigorous capital allocation process based on returns, that resulted in decreased Voisey’s Bay production output to extend its mine life while the Voisey’s Bay Mine Extension project is reassessed, as well as, Vale’s decision to adjust its nickel supply by placing non-competitive mines, such as Stobie in Sudbury and Birchtree in Manitoba, on care and maintenance. Finished nickel production in 1Q18 was also impacted by (i) lower production of finished nickel from PTVI as a result of a planned maintenance shutdown in the Matsusaka refinery in Japan; (ii) unscheduled maintenance works at Sudbury’s Coleman Mine; and (iii) timing issues with finished production from New Caledonian source material being shipped and consumed at downstream refineries, which resulted in 17.9% reduction when compared to 1Q17, with VNC finished production being expected to recover over the next quarters, given that the production rate at the site is going well. Nickel production is expected to increase to about 65,000 t in 2Q18.

Sales volumes of nickel were 57,900 t in 1Q18, reflecting lower production volumes in 1Q18 as well as finished inventories build-up of 700 t to replenish inventory levels. 

• [Editor:王可]