Indonesian NPI output stood at 110,700 mt in April, up 13.36% month-on-month and up 17.7% year-on-year. Output from January to April totalled 415,300 mt in Ni content, up 19.3% year-on-year. In April, the problem of power equipment construction in some factories in Indonesia was resolved, and the domestic and overseas demand for stainless steel has recovered. These, combined with a shortage of stainless steel scrap, boosted the demand for NPI. Therefore, the NPI plants were incentivised to step up production.
In addition, although some enterprises have switched their production lines from high nickel matte back to NPI capacity, some enterprises also plan to do the opposite. The commissioning of large numbers of NPI production lines in April was the main reason why the overall supply kept growing.
In May, China's 300-series stainless steel production increased intensively, and some Indonesian NPI plants are scheduled to ramp up production in May. It is estimated that Indonesia's NPI production may reach 115,400 mt in Ni content in the month, a month-on-month increase of about 4.25%, and a year-on-year increase of 17.4%.
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