POSCO FutureM Delays KRW1.2 Trillion Investment in Nickel Raw Material Plant

Published: Sep 13, 2024 17:12
POSCO FutureM has postponed its investment plan of KRW1.2 trillion that was originally intended for the construction of precursor and high-purity nickel raw material production lines. The project was originally scheduled to build a factory with an area of about 80,000 pyeong in the Gangneung Industrial Complex in Pohang City by 2027.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Nickel Futures Decline, Market Pessimism Grows, Transactions Scarce Amid Price Discrepancies
6 hours ago
Nickel Futures Decline, Market Pessimism Grows, Transactions Scarce Amid Price Discrepancies
Read More
Nickel Futures Decline, Market Pessimism Grows, Transactions Scarce Amid Price Discrepancies
Nickel Futures Decline, Market Pessimism Grows, Transactions Scarce Amid Price Discrepancies
[SMM Nickel Flash] On May 18, futures continued to decline, and market pessimism spread. Upstream suppliers mostly maintained high offer prices, but actual transactions were scarce, with some softening in quoted prices. Downstream steel mills adopted a more cautious purchasing stance, mostly referencing steel scrap price ratios, with mainstream intended bids concentrated at 1120-1130 yuan/nickel unit, showing a clear divergence from upstream offers. Under the short-term downward trend, both upstream and downstream pricing sentiment remained cautious, further suppressing spot transaction activity.
6 hours ago
SMM Nickel Flash: High-Grade NPI Market Sentiment Declines, Futures Weaken and Prices Drop
6 hours ago
SMM Nickel Flash: High-Grade NPI Market Sentiment Declines, Futures Weaken and Prices Drop
Read More
SMM Nickel Flash: High-Grade NPI Market Sentiment Declines, Futures Weaken and Prices Drop
SMM Nickel Flash: High-Grade NPI Market Sentiment Declines, Futures Weaken and Prices Drop
[SMM Nickel Flash] May 18 — The SMM high-grade NPI market sentiment indicator was 2.74, down 0.08 MoM; the high-grade NPI upstream sentiment indicator was 3.25, down 0.09 MoM; the high-grade NPI downstream sentiment indicator was 2.24, down 0.06 MoM. Today, the high-grade NPI market was dragged down by weakening futures, presenting an overall pattern of firm upstream offers, stagnant transactions, and a declining price center, with the price spread between high and low grades staying high.
6 hours ago
[SMM Stainless Steel Flash] Japanese Stainless Steel Mill Hikes May Prices
11 hours ago
[SMM Stainless Steel Flash] Japanese Stainless Steel Mill Hikes May Prices
Read More
[SMM Stainless Steel Flash] Japanese Stainless Steel Mill Hikes May Prices
[SMM Stainless Steel Flash] Japanese Stainless Steel Mill Hikes May Prices
Driven by rising alloy costs, Nippon Steel Stainless Steel (NSSC) raised its May prices for 300-series stainless steel by JPY10,000/ton and 400-series by JPY5,000/ton. May benchmark prices for nickel and chromium were raised to US$7.96/lb and US$1.63/lb, up 2.6% and 1.8% respectively.
11 hours ago