Fujian Dingxin Industries Co., a leading Chinese nickel pig iron (NPI) producer, expanded downstream by opening a 3-million-tpy stainless steel billets plant last month.
The plant came on stream at the end of June, Fujian Dingxin’s parent company Tsingshan Holding Group said on its website.
Fujian Dingxin is China’s NPI producer with the lowest production cost by first running rotary kiln electric furnace (RKEF) technology, according to Wang Haoyang, a nickel analyst at Shanghai Metals Market (SMM).
The company, based in Fu’an city of Fujian province, has a 1-million-tpy production capacity for NPI, which is the raw material used in making stainless steel.
Between 1.2-1.5 billion yuan ($194-242 million) has been spent in the new plant. A similar amount of investment will be made to construct second phase of the stainless steel capacity.