Industry News

Indonesia's Tsingshan to cut stainless steel production due to low market

Views : 139
Update time : 2022-09-06 22:14:44
Indonesia's Tsingshan Holding Group decided to cut its production by 30% in September and October. Tsingshan stated that the stainless steel demand was low, but the market for new energy materials hiked. As a result, it decided to put nickel resources on nickel matte in the new energy resource industry.

Currently, the Taiwanese and Chinese stainless steel markets fluctuate. However, the steel market was forecasted to stay stable gradually in the future, and some buyers might start to refill their stocks.

With the production cut, Taiwan's steel mills are likely to face rising scrap purchasing prices. Although the nickel price at the London Metal Exchange (LME) decreased, the price of carbon scrap increased. Therefore, Taiwan's steel manufacturing costs might grow in the short term.
Related News
Read More >>
Overseas alumina prices continue to decline, domestic alumina price difference between north and south China narrows Overseas alumina prices continue to decline, domestic alumina price difference between north and south China narrows
Jan .24.2025
Overseas alumina prices continue to decline, domestic alumina price difference between north and south China narrows
Entering the Chinese New Year holiday, market trading is sluggish Entering the Chinese New Year holiday, market trading is sluggish
Jan .24.2025
Entering the Chinese New Year holiday, market trading is sluggish
Trade & Pricing: Europe's billet market trend 2024-2025 Trade & Pricing: Europe's billet market trend 2024-2025
Jan .24.2025
Trade & Pricing: Europe's billet market trend 2024-2025
Marcegaglia UK includes new stainless steel tube production at Oldbury facility Marcegaglia UK includes new stainless steel tube production at Oldbury facility
Jan .24.2025
Marcegaglia UK includes new stainless steel tube production at Oldbury facility