China Shandong To Shut 920,000 Tons Ferronickel Capacity -Report

SHANGHAI, July 5 -- China's Shandong province will permanently shut 920,000 metric tons of ferronickel capacity by the end of the year as part of its effort to eliminate outdated metal capacity, China Nonferrous Metals Network reported Friday.

The facilities to be shut are mainly ferronickel and nickel pig iron smelters in the city of Linyi, the report cited the province's economic and information technology committee as saying.

Most of the companies whose facilities are to be shut have already idled the blast furnaces that are used to produce ferronickel and nickel pig iron due to fluctuating nickel prices, according to the report.