SHANGHAI, Aug. 14 (SMM) – Xiamen C&D Shengmao Co. succeeded to put online its Indonesia-based NPI project recently and shipped products to China for the first time, Shanghai Metals Market confirmed.
The first shipment of NPI from Chinese-built project in Indonesia arrived in China in early July after 45 days leaving the Port of Surabaya in Indonesia, without adding the specific amount.
Price for the batch of goods is based on average price of high-grade NPI on five days before the arrival+the day of arrival+five days after the arrival.
, located in Sulawesi, Indonesia, is expected to produce 800 tonnes of NPI (Ni 10-13%), with annual capacity of 1,200-tonne NPI in nickel content.
The company, a wholly-owned subsidiary company of Xiamen C&D Inc., is the first Chinese company that considers building NPI plant in Indonesia even before the country introduced its export ban on unprocessed ore early this year. It took nearly one year to complete its construction of blast furnace in Indonesia.
Chinese enterprises are showing high enthusiasm in building NPI plants overseas after Indonesia put the ban into effect. Most of them chose to employ blast furnace technology due to power supply problems in Indonesia and a shorter construction cycle.
Despite a small amount of supply by Xiamen C&D Shengmao Co., it has sent a strong signal to the market that the release of newly-build Indonesian NPI projects by foreign countries will gradually undermine the rising momentum in the nickel market.
SMM expects Chinese-built NPI plants to come on stream in large amounts in 2016 at its earliest.