Tsingshan, China’s leading nickel producer, has announced a reduction in nickel pig iron (NPI) production in Indonesia. This decision comes as ongoing delays in mining quota approvals have caused a shortage of nickel ore. The ore shortage has led to higher nickel ore prices, significantly increasing production costs for NPI. As a result, stainless steel manufacturers across Asia are facing rising costs due to this supply chain disruption.
Key highlights:
This development is likely to affect global stainless steel pricing and supply, as Tsingshan plays a critical role in the industry.
Malaysia