SMM News Flash: Walsin Boosts Capital of Singapore Subsidiary to Build Stainless Steel Wire Rod Plant in Indonesia

Published: Nov 12, 2024 09:58

Save

[SMM News Flash] SMM reported on November 12 that the board of directors of Walsin has resolved to increase the capital of its Singapore subsidiary, Walsin Singapore Pte. Ltd. (WLS), by approximately USD 9.15 million for PT. Walsin Everising Specialty Steel Indonesia (Walsin Everising) to plan and build a stainless steel wire rod plant in Indonesia. This move aims to enhance cost competitiveness and leverage the company's brand value synergy. This capital increase will raise the shareholding to 51%, with a total cumulative investment of approximately USD 15.3 million.

WLS and Mimosa International Limited have jointly established Walsin Everising in the Morowali Industrial Park in Indonesia to construct a stainless steel wire rod plant, producing 300-series stainless steel basic wire rods with an estimated annual production of 300,000 mt. The future target markets will be Southeast Asia and South Asia, with the plant expected to be completed in Q2 2026 and officially commence mass production in H1 2027.

At the end of 2019, Walsin Lihwa established Walsin Nickel Industry Indonesia in the Morowali Industrial Park to develop upstream raw material NPI for stainless steel, ensuring a stable supply of upstream raw materials for stainless steel. Now, further expanding its business through planned investment cooperation, Walsin aims to consolidate its leading position in the global stainless steel market.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

6 hours ago

High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip

[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.

6 hours ago

High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches

[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.

6 hours ago

Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu

[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.

6 hours ago