Changsheng Ni Cr Material to cut high-grade ferronickel production
2023-04-24 11:30:43 [Print]
BEIJING (Asian Metal) 24 Apr 23 - Changsheng Ni Cr Material Co., Ltd. in Shangdu County, Inner Mongolia, one of the major ferronickel producers in North China, shut down one furnace in April and expects to produce at most 4,000t of high-grade ferronickel in April.
"As the demand for high-grade ferronickel keeps weak, we see a sharp decline in orders. In order to avoid inventory backlog, we shut down one furnace in April. We expect to produce at most 4,000t of high-grade ferronickel in April, down from around 8,000t in March," a source from the company said, adding that they only operate one furnace now.
With an annual production capacity of 250,000t, the company produced about 69,000t in 2022 and holds about 5,000t of stocks now.
Late this week, mainstream prices for high-grade ferronickel 10%min stood at RMB1,100-1,120/mtu (USD159-163/mtu), up by RMB10/mtu (USD1.45/mtu) from the previous trading day. The current continuous increase in stainless steel price will push up the price of high-grade ferronickel, and prices for Chinese high-grade ferronickel 10%min would rise further in the coming week.
"As the demand for high-grade ferronickel keeps weak, we see a sharp decline in orders. In order to avoid inventory backlog, we shut down one furnace in April. We expect to produce at most 4,000t of high-grade ferronickel in April, down from around 8,000t in March," a source from the company said, adding that they only operate one furnace now.
With an annual production capacity of 250,000t, the company produced about 69,000t in 2022 and holds about 5,000t of stocks now.
Late this week, mainstream prices for high-grade ferronickel 10%min stood at RMB1,100-1,120/mtu (USD159-163/mtu), up by RMB10/mtu (USD1.45/mtu) from the previous trading day. The current continuous increase in stainless steel price will push up the price of high-grade ferronickel, and prices for Chinese high-grade ferronickel 10%min would rise further in the coming week.
