SHANGHAI, Jul. 9 (SMM) – A list of nickel news briefs as below:
Nickel Producers Scramble to Build Smelters in Indonesia
It was reported that Indonesia will impose a 20% export tariff on raw ore, effective May 6, 2014. This has driven many nickel producers to build ferronickel plants in the country. Singapore’s Ibris Group is planning to build a RKEF smelter in Indonesia. The smelter, representing USD 1.8 billion in budget, is scheduled to be completed in two phases.
Chinese NPI Producer Maintain High Output against Falling Nickel Prices
Despite an overhang of nickel in the global market and plunging LME nickel prices, Chinese nickel pig iron (NPI) producers still maintain high output. Most market players believe some NPI capacity in China has been closed over the past few months, but no one knows the exact amount. The cash cost of NPI producers has now fallen to a mere USD 12,500/mt thanks to the application of RKEF technology.
Finland’s Talvivaara Resorts to Layoff to Reduce Production Costs
Finland’s nickel ore producer Talvivaara said it plans to lay off a maximum of 250 people, 40% of its total employee to reduce production costs amid lackluster nickel prices. The company claimed earlier its nickel output in 2013 is estimated at 18,000 mt.
Baosteel’s July Tender Prices for High-Grade NPI at RMB 905/Mtu
Baosteel’s tender prices for high-grade NPI (10-15%) for July are RMB 905/mtu (delivery to factory, including tax)