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Nickel and ferrochrom price rose 6 percent


Sahit Muja, President and CEO Albanian Minerals

07.12.2014 17:34:02 -

(live-PR.com) - Albanian Minerals President and CEO Sahit Muja said, "Nickel and ferrochrome sector had been energised in December as reserves are being depleted in China, Europe, U.S. and Japan. The Indonesian Constitutional Court upheld the ban on exports of raw minerals imposed this year. The court has rejected the appeal from mining companies, this will continue to put pressure in nickel

 

and ferrochrome prices .

According to Indonesian Ministry of Economy, Investors are planning to build six alumina refineries and 30 nickel smelters through 2017.
Globally there are no new large-scale nickel projects coming on stream and export bans in Indonesia will only add to the pace at which supply and demand pressures must invariably spike a price rise.

China's biggest stainless steel mill TISCO hiked NPI prices by 25 percent due to tight supply after Beijing sought to clear its skies ahead of an international conference in October, ordering plants to temporarily shut. Three month nickel on the London Metal Exchange had climbed to USD 17,200 a tonne its highest since September

TISCO is a giant iron and steel complex which integrates mining, iron and steel production, processing, delivery and trade; is also the largest stainless steel producer in the world with the most advanced technologies and equipment and full range of products and specifications. Its annual production capacity is more than 10 million tons of steel, among it, 4 million ton of stainless steel.

Sahit Muja added that; Chinese high-carbon ferrochrome price rose near 6 percent on December; Chrome ore prices also increased $10 per ton in December. The ferrochrome alloy is a key ingredient in manufacturing stainless steel giving it strength, weight, rust protection and it's characteristically muted shine. China doesn't have chrome reserves of its own to produce ferrochrome. China now worlds largest ferrochrome producer need to accelerated its imports of chrome ore from India, South Africa, Turkey, Iran, Albania and Oman so they could produce ferrochrome.


Press Information:
Albanian Minerals



Contact Person:
Diana Green

eMail: eMail

Web: http://www.albanianminerals.com



 

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