Huiran Industry carries out ferronickel equipment maintenance
2024-04-07 10:32:59 [Print]
BEIJING (Asian Metal) 7 Apr 24 - Jiangsu Huiran Industry Co., Ltd., one of major high-grade ferronickel 10%min producers in East China, suspended ferronickel production on March 22 to carry out equipment maintenance, with an output of around 9,000t in March.
"On March 22 our company suspended ferronickel production for equipment maintenance and we expect to complete the maintenance on April 7 and resume production. We had an output of around 9,000t in March," a source from the company said, expecting to produce about 10,000t in April.
With an annual production capacity of 200,000t, the company produced about 166,000t of ferronickel in 2023 and holds no stocks now.
On Wednesday, mainstream prices for Chinese high-grade ferronickel 10%min stood at RMB930-950/mtu (USD129-131/mtu) EXW, unchanged from Tuesday. Considering that now stainless steel producers hold sufficient ferronickel stocks and watchful sentiments spread on the market, insiders believe that prices of Chinese high-grade ferronickel 10%min would decline in the coming week.
"On March 22 our company suspended ferronickel production for equipment maintenance and we expect to complete the maintenance on April 7 and resume production. We had an output of around 9,000t in March," a source from the company said, expecting to produce about 10,000t in April.
With an annual production capacity of 200,000t, the company produced about 166,000t of ferronickel in 2023 and holds no stocks now.
On Wednesday, mainstream prices for Chinese high-grade ferronickel 10%min stood at RMB930-950/mtu (USD129-131/mtu) EXW, unchanged from Tuesday. Considering that now stainless steel producers hold sufficient ferronickel stocks and watchful sentiments spread on the market, insiders believe that prices of Chinese high-grade ferronickel 10%min would decline in the coming week.
