Tsingshan Sharply Lowers Purchasing Price of High-Carbon Ferrochrome

SHANGHAI, Mar 25 (SMM) - Ruipu Energy, one of Tsingshan Industry’s subsidiaries, announced on March 24 that Tsingshan Industry and SAIC have signed an agreement to jointly build a 20GWh power battery and system project in Liuzhou, Guangxi, with a total investment of 5.5 billion yuan.  

Glencore’s report showed that its annual revenue in 2021 increased by 43% to $203.75 billion. The adjusted gross profit rose by 84% 21.32 billion, and the attributable net profit increased from -$1.9 billion in 2020 to $4.97 billion.

SHANGHAI Feb 10 (SMM) - The followings are the Q&A regarding Huayou Cobalt’s high-grade nickel matte purchase and project.

On the morning of December 8, the molten low-grade nickel matte was steadily added to the #1 converter in the Tsingshan Industrial Park in Indonesia.

After the Zimbabwe Environmental Administration (EMA) approved Dingsen Steel to start operations, Mvuma, the largest steel company in the region, is ready for the trial operation.

The output of ferrochrome rose sharply as power rationing situation in Inner Mongolia has been greatly eased since October, but its demand hardly increased as the downstream stainless steel mills are still subject to policy restrictions that cannot exceed the output of last year.

The prices of high-carbon ferrochrome kept falling last week. TISCO, Baosteel Desheng, and JISCO released the bidding prices of high-carbon ferrochrome for November last week, and the average price rose by 510 yuan/mt (Cr 50%) from October.

The average price of Ni 1.5% Philippine laterite nickel ore stood at $82/wmt last week, flat on the week.

This is a roundup of news in the steel industry for last week.

Tsingshan Group disclosed on October 29 its purchase price, which was earlier than the previous month, for high-carbon ferrochrome in November at 10495 yuan/mt (Cr 50%/in cash, tax included, delivery to factory), up 500 yuan/mt from a month ago. And the purchase price at Tianjin port is 150 yuan/mt (Cr 50%) lower with the delivery due on December 10, 2021.