Changsheng Ni Cr Material resumes ferronickel production
2024-03-27 11:16:25 [Print]
BEIJING (Asian Metal) 27 Mar 24 - Located in Shangdu County, Inner Mongolia, Changsheng Ni Cr Material Co., Ltd., a major high-grade ferronickel 14%min producer in North China, resumed ferronickel production starting from early March and expects to produce about 10,000t of the material during the month.
"We halted production from February 5 to take the Spring Festival holiday and didn't resume production until March 1, so our output in February was only 1,500t or so. We expect that our output in March would reach about 10,000t," a source from the company said, adding that they mainly sign long term orders with end users and have limited retail orders.
Owning an annual production capacity of 250,000t and three furnaces in total, the company produced about 90,000t of ferronickel in 2023, holding about 5,000t of stocks now.
On Tuesday, mainstream prices for Chinese high-grade ferronickel 10%min stood at RMB940-960/mtu (USD130-133/mtu), down by RMB10/mtu (USD1.39/mtu) from last Friday. It's expected that prices of Chinese high-grade ferronickel 10%min would decline in the coming week owing to decreased consumption for the material from steel mills this week resulting from weak demand for stainless steel.
"We halted production from February 5 to take the Spring Festival holiday and didn't resume production until March 1, so our output in February was only 1,500t or so. We expect that our output in March would reach about 10,000t," a source from the company said, adding that they mainly sign long term orders with end users and have limited retail orders.
Owning an annual production capacity of 250,000t and three furnaces in total, the company produced about 90,000t of ferronickel in 2023, holding about 5,000t of stocks now.
On Tuesday, mainstream prices for Chinese high-grade ferronickel 10%min stood at RMB940-960/mtu (USD130-133/mtu), down by RMB10/mtu (USD1.39/mtu) from last Friday. It's expected that prices of Chinese high-grade ferronickel 10%min would decline in the coming week owing to decreased consumption for the material from steel mills this week resulting from weak demand for stainless steel.
