China’s ferroalloys producers eye shift to stainless

Aug 09, 2013 | 09:12 AM |

Tags  China ferroalloys, stainless steel, production shift, nickel pig iron, production costs, Hongyan Ferroalloy, Taigang Stainless, Shengyang Group

SHANGHAI — Chinese ferroalloys producers might consider a move into stainless steel despite continued weakness in that industry in the first half of the year.

Ferroalloys producers might look downstream due to bottlenecks, aided by an advantageous cost position and a targeted approach in specific markets, some industry sources said.

Chinese stainless mills have been cutting high-grade nickel pig iron purchases since the beginning of the year.

The country’s largest stainless steel mill, Taigang Stainless Steel Co. Ltd., cut its high-grade nickel pig iron buying prices by 23.3 percent to 905 yuan ($147) per tonne in July from 1,180 yuan in January. The average operating rate for domestic nickel pig iron smelters was around 50 percent in June vs. 70 percent in January.....

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