SHANGHAI, Oct 29 (SMM) – China's Tsingshan will slash nickel pig iron production at its smelter in Indonesia by 20% in November, in order to maintain its levels of nickel ore inventory as supply tightened after the commencement of the rainy season.
The smelter produced 21,000 mt in Ni content of NPI this month, which means that the cut next month will wipe out about 4,000 mt in Ni content of production.
The news was firstly reported by Reuters, as the market was roiled by the overnight rumours that Indonesia is halting nickel ore exports immediately.
A source from Tsingshan Indonesia has confirmed the plan of production curtailment with SMM.
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