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Nickel and Stainless Steel Daily Review: Negative feedback from declining demand leads to reduction in nickel sulfate production, and shortage of raw materials leads to decline in stainless steel production

On April 11, 2022, with the joint efforts of the staff of Taishan Iron and Steel Group, the 2# generator set of the Nickel Power Project in the Indonesia Comprehensive Industrial Park was successfully connected to the grid for the first time, and officially supplied power to the Nickel Iron Project. The indicators all meet the design requirements. According to SmA’s research and understanding, if the production goes smoothly, the ferronickel production line is expected to be put into operation in May.

On April 12, according to market news, the Delong Liyang 268Cnn stainless steel hot tandem rolling project will soon pass the steel after various commissioning, and will produce flat plates in the early stage. According to a report on April 12, a senior Indian government official said on Tuesday that the EU Steel Ministry has asked the Indian Ministry of Finance to cancel the basic tariffs imposed on ferronickel. Nickel-iron is a key raw material for stainless steel manufacturers. The move will help stainless steel manufacturers reduce input costs. Currently, a 2.5% tariff is imposed on imported ferronickel. India’s domestic stainless steel manufacturing industry supplies most of its nickel demand through ferronickel and stainless steel scrap. The Indian government is aware of the challenges facing the Indian stainless steel industry. On the sidelines of the Global Stainless Steel Expo (GSSE) 2022, Steel Minister Rasika Chaube told PTI that the availability of raw materials is one of the major challenges facing the industry. We have extended zero tariffs on scrap until 23 March. The second is nickel and chromium. Chromium is in ample supply, but nickel is in short supply. We have raised the issue with the Ministry of Finance (removing the ferronickel tariff) because this is a very important raw material for the stainless steel industry.

Post time: Apr-14-2022