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Home / Metal News / Nickel prices likely to rise as Indonesia Tsingshan commissions project

Nickel prices likely to rise as Indonesia Tsingshan commissions project

Jun 22, 2018 11:08

Source:SMM

PT Indonesia Tsingshan Stainless Steel commissioned a 1 million mt stainless steel project on Wednesday June 20

SHANGHAI, Jun 22 (SMM) – PT Indonesia Tsingshan Stainless Steel commissioned a phase III stainless steel project of 1 million mt, on Wednesday June 20, SMM learned. This brought the company's total stainless steel capacity to 3 million mt.

SMM believes that the new, larger capacity will bolster prices of nickel, SMM believes.

The commissioning of phase III came ahead of schedule. Market participants previously expected the project to be commissioned after July

By October, all projects at Tsingshan Indonesia Morowali Industrial Park (IMIP) would be commissioned. This includes 2 million mt of ferronickel capacity, 3 million mt of stainless steel capacity, 600,000 mt of ferrochrome capacity and 1.96 million KW of power generation capacity.

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