Benchmarking Analysis of the Development Direction of MHP and Nickel Matte

Benchmarking Analysis Of the Development  Direction Of MHP And Nickel Matte

Technical Due Diligence Survey of Nickel Product Unit

Technical Due Diligence Survey Of Nickel Product Unit

Long-term Price Forecast of Nickel Industry

Long-term Price Forecast Of Nickel Industry

Feasibility Study of Nickel Industry Investment

Feasibility Study Of Nickel Industry Investment

Indonesia Ni Industry Analysis 

Home

Metal News

Baoshan Steel May Cut Nickel Use in Stainless Steel Production

Li-ion Battery Americas 2024

2024 SMM (19th) Aluminium Conference & the First Aluminium Industry Expo

CLNB 2024 9TH CHINA NEW ENERGY EXPO

Indonesia Nickel & Cobalt & EV Industry Conference 2024

ASEAN Tin Industry Conference 2024

ASEAN Coal Industry Conference 2024

ASEAN Aluminium Industry Conference 2024

2024 ASEAN Automotive Supply Chain

2024 Global Renewable Metal Industry Chain Summit

2nd Li-ion Battery Europe 2024

SMM Daily Review (Sept. 1)

SHANGHAI, Sept. 2 -- Baoshan Iron &amp; Steel Co., China's largest mill, may cut nickel use in its stainless steel production to cut costs and boost profit, an executive said.
&nbsp;&nbsp;&nbsp; The company is boosting output of ferretic steel, which doesn't contain nickel, to 60 percent of stainless production from 40 percent, Lou Dingbo, Baoshan's general manager of the business, said in an interview in Shanghai today. He didn't give a specific forecast on nickel consumption.
&nbsp;&nbsp;&nbsp; Nickel, used to rust-proof steel, dropped to a one-month low today on concern slower bank lending in China may trim demand. The price of the metal has jumped 54 percent in the past five years, spurring Chinese mills to seek ways to make stainless steel using less nickel to cut costs.
&nbsp;&nbsp;&nbsp; &quot;We've cut reliance on nickel by shifting product mix,&quot; Lou said. &quot;Our stainless steel business made a profit in the first half also because we slashed nickel inventories. The sector is expected to report a profit for the full year.&quot;
&nbsp;&nbsp;&nbsp; Baoshan, the country's second-largest stainless steel producer, rose 0.2 percent to 6.63 yuan at 11:29 a.m. in Shanghai trading. Nickel futures dropped 1.7 percent to $17,940 a ton in London trading.
&nbsp;&nbsp;&nbsp; Rising Output 
&nbsp;&nbsp;&nbsp; The Shanghai-based company consumed 40,000 tons of nickel last year, according to Lou. Baoshan is boosting ferretic steel output because of demand from home appliance makers, he said.
&nbsp;&nbsp;&nbsp; The reduction of nickel use comes as Baoshan plans to increase output of stainless steel to meet rising demand. Baoshan may boost output to 1.1 million metric tons this year from 900,000 tons a year ago, Shen Hui, a marketing manager, said in the same interview.
&nbsp;&nbsp;&nbsp; Crude steel output in China jumped 13 percent in July to a record as the nation's $586 billion stimulus package increased demand from builders and carmakers. The stimulus increased demand for stainless steel used in decorations, Lou said.
&nbsp;&nbsp;&nbsp; Baoshan, which has the capacity to make 1.5 million tons of stainless steel a year, on Aug. 31 said it plans to raise output &quot;moderately&quot; in the second half.
&nbsp;&nbsp;&nbsp; Shanxi Taigang Stainless Steel Co., China's largest producer, said today it may increase output by 34 percent this year as the stimulus spurred demand.
&nbsp;&nbsp;&nbsp; Production may jump to a record 2.4 million tons from 1.79 million tons a year ago, Vice President Chai Zhiyong said.
&nbsp;&nbsp;&nbsp; Taigang fell 0.8 percent to 7.49 yuan in Shenzhen trading.
&nbsp;&nbsp;&nbsp; (Source: Bloomberg)
&nbsp;

Nickel Declines to a One-Month Low in Asia on Liquidity Concern

Baoshan Steel May Cut Nickel Use in Stainless Steel Production | Shanghai Non ferrous Metals

Baoshan Steel May Cut Nickel Use in Stainless Steel Production

SMM Events & Webinars

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit

2024 ASEAN Automotive Supply Chain