SHANGHAI, Aug. 20 (SMM) – Zhenshi Group ignited one 80m3 blast furnace recently, according to SMM sources.
It plans to produce 1,000-2,000 tonnes of NPI in August.
The furnace, run by Zhenshi Group's subsidiary FBLN Company in Indonesia, is one part of its 80,000-tpy NPI project.
Current NPI price after continuous losses left no profits for Indonesia-based producers, market players said.
“NPI prices are expected to improve in September,” one person, unnamed, from the company expects.
It is a traditionally peak demand season for stainless steel in September, and some large Chinese stainless steel mills may also launch NPI purchases at month-end.
But, the NPI outlook is now clouded by strong pessimism amid the sluggish nickel market, SMM notes.
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