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Stainless steel glut builds in China-The 19th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
5/8/2018 不锈钢展-不锈钢展会-效果最好的不锈钢展会- Stainless Steel Exhibition |
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Reuters reported that an abundance of stainless steel in China following the ramp up of new production in Indonesia is threatening stainless mills globally and the nickel producers that supply them. Marking a major structural shift, China, which makes and consumes around half of the world’s stainless, became a marginal net importer of hot rolled stainless coil in December for the first time in more than seven years, data from the International Steel Statistics Bureau and from consultants CRU showed.
This is after Chinese-owned stainless giant Tsingshan started production last August at a giant plant in Indonesia that should, by the end of 2018, have an annual capacity of 3 million tonnes.This is equivalent to 6 percent of last year’s global flat stainless capacity, CRU said and there is more to come, with China’s Delong Holdings set to start production at its Indonesian stainless plant in 2019.
CRU analyst Michael Finch said that “If we look at 2021 when we have Delong and Tsingshan fully ramped up, Indonesian capacity will rise to more than 5 million tonnes, that’s just under 10 percent of global capacity.”
He added that Tsingshan, which has a captive power source and produces its own ferrochrome and nickel pig iron - key raw materials for stainless - is an “incredibly low cost producer”.
The plant sells most of its stainless to China, where stocks have risen 80 percent since the end of December, hitting their highest in more than eight years in mid-April, according to CRU. China’s stainless prices have flatlined since mid-January at around 15,500 yuan a tonne.
不锈钢展-2018第十九届广州国际不锈钢工业展-效果最好的不锈钢展会-The 19th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
- Stainless Steel exhibition,2018
Stainless Steel exhibition, China Stainless Steel exhibition,
Guangzhou Stainless Steel expo,Guangzhou
Stainless Steel exhibition, 2018 Stainless Steel expo,
China Stainless Steel expo
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