PDF《印尼最新发展：》

印尼最新发展: 镍生铁项目增产进展,市场增长障碍和未来生产展望 香港,

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1 The materials used herein and this presentation (collectively, the Presentation ) have been prepared by Indoferro business development team, solely for use at the presentation to be made on 2016.

By viewing the Presentation, or by reading the materials used at the Presentation, you agree to be bound by the following limitations: ? The Presentation is strictly confidential and may not be copied, published, distributed or transmitted or disclosed by recipients to third parties. ? The Presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities or an inducement to enter into any investment activity, nor shall any part or all of the Presentation form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities. ? The Presentation is being provided by the Company for informational purposes only and has not been independently verified. Neither the Company nor any of their respective affiliates makes any representation or warranty, express or implied, as to the fairness, accuracy, correctness or completeness of the information in the Presentation, and nothing in the Presentation is (or shall be relied upon as) a promise or representation by the Placing Agent or any of its affiliates. The Company and its affiliates shall have no liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of the Presentation or otherwise arising in connection with the Presentation. ? The Presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, viewers of the Presentation are cautioned not to place undue reliance on these forward-looking statements. The Company and its respective affiliates disclaim any obligation to update these forward-looking statements to reflect future events or developments. ? The Presentation does not constitute a recommendation regarding the securities of the Company. By attending this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company. 内容 ? 第一部分:2016年镍市展望(前言) ? 第二部分 : 印尼出口禁令和下游产业政策 ? 第三部分: 印尼镍业面临的挑战 ? 第四部分: INDOFERRO : 符合下游产业政策 ? ? 第五部分 : 结论

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2 2016年镍市展望

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3 镍市展望(1) C 成本 对比 价格 ? 一般相信现有镍价不可持续,因为全球超过一半的镍生产商在当前价格下都亏损. Source : Bloomberg, WoodMackenzie,

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4 镍市展望(2) C 镍生铁 ? 当前市场状况对镍生产商来说特别困难, 一般相信2016年第4季度前会出现供应短 缺,价格将开始从谷底8000美元-8500美元/吨反弹. ? 由于生产成本高,原料短缺和环保合规压 力,中国的大多数NPI镍生铁厂将于2017 年被关闭. ? 一般预测,到2017年,中国将只有28家 镍生铁厂仍在运行,而2014年的记录中 则有50家.同时,与2014年相比,2017 年将减产+/-40%. Open source,