Shengyun Industrial Development halts ferronickel production
2024-03-06 11:44:20 [Print]
BEIJING (Asian Metal) 6 Mar 24 - Liaoning Shengyun Industrial Development Co., Ltd., one of major ferronickel 10%min producers in North China, halted ferronickel production starting from February 6 with an output of only 800t or so during the month.
"We stopped ferronickel 10%min production from February 6 and only produced about 800t of the material during the month, much lower than about 4,000t in January," a source from the company said, adding that they are still uncertain when to resume production and mainly consume stocks in hand now.
With an annual production capacity of 150,000t, the company produced about 72,500t in 2022 and about 80,000t in 2023, holding about 20,000t of stocks at the moment.
Last Tuesday, mainstream prices of Chinese high-grade ferronickel Ni 10%min S 0.45%max P 0.035%max stayed at RMB960-980/mtu (USD133-136/mtu), stable from the last trading day. Insiders noted that the Chinese high-grade ferronickel 10%min market sees declined demand at present as consumers start waiting on the sidelines, expecting that prices of the material would basically keep steady in the coming week.
"We stopped ferronickel 10%min production from February 6 and only produced about 800t of the material during the month, much lower than about 4,000t in January," a source from the company said, adding that they are still uncertain when to resume production and mainly consume stocks in hand now.
With an annual production capacity of 150,000t, the company produced about 72,500t in 2022 and about 80,000t in 2023, holding about 20,000t of stocks at the moment.
Last Tuesday, mainstream prices of Chinese high-grade ferronickel Ni 10%min S 0.45%max P 0.035%max stayed at RMB960-980/mtu (USD133-136/mtu), stable from the last trading day. Insiders noted that the Chinese high-grade ferronickel 10%min market sees declined demand at present as consumers start waiting on the sidelines, expecting that prices of the material would basically keep steady in the coming week.
