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Nickel pig iron capacity expansion of Chinese mill in Indonesia to rub off nickel price hike-The 17th China(Guangzhou)Int’l Spring Industry Exhibition
10/20/2015 Spring Industry Exhibition |
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Reuters reported that a unit of China steel producer Tsingshan Group is set to triple its capacity to produce nickel pig iron in Indonesia as soon as May 2016. Tsingshan Bintangdelapan Group CEO Mr Alexander Barus said in an interview recently that "By May next year, we''ll have an installed capacity of 900,000 tonnes of nickel pig iron.”
He said “The expansion of its facility on the island of Sulawesi will make the company the country''s top producer of the nickel iron feed. The plant has been operating at 60-70 percent of its current capacity of 300,000 tonnes.”
Mr Barus said the timetable for expanding the project had not been changed due to the low nickel prices, which this week stood around USD 10,400 per tonne. He expects price to recover to USD 12,000-13,000 in the next six months as the global economy revives. He told "We are producing at a loss now, but this is the way you arrive at an area where in the future you are going to be competitive. For the time being we are sticking to our schedule."
The firm is developing three smelters at the site, which once completed will have a combined annual output capacity of 1.2 million tonnes of nickel pig iron, containing 120,000 tonnes of nickel. The group expects all three smelters to be completed by June 2017.
Chinese stainless steel mills often feed nickel pig iron into furnaces to strengthen their product as a cheaper alternative to refined nickel. That means increased Indonesian nickel pig iron output could help pour cold water on remaining hopes for international nickel prices to climb off six-year lows.
彈簧展-2016第十七屆廣州國(guó)際彈簧工業(yè)展覽會(huì)-全球最大彈簧展會(huì)-巨浪展覽
-spring
- spring industry - spring industry expo-The 17th China(Guangzhou)Int’l Spring Industry Exhibition
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