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| Ferro-Nickel |
Surging Demand Drives Unprecedented Import Volumes
In 2024, China's ferro-nickel imports reached a new record, driven by robust demand from its stainless steel mills and alloy producers, particularly those with operations in Indonesia. The total import volume surged to 8.98 million tons, marking a 6.2% increase from the previous year. A significant portion of these imports, amounting to 8.67 million tons, came from Indonesia, reflecting a 9.5% rise over the period.
Indonesian Production Boom Fuels Export Growth
The surge in imports from Indonesia is attributed to new production capacities at companies like Lygend, Nadesico Nickel Industry (NNI), and Shuoshi. These firms have effectively compensated for reduced shipments from other countries such as New Caledonia, Colombia, and Brazil, which saw declines in their export volumes to China by 27%, 0.9%, and 36% respectively.
Strategic Expansion and Technological Advancements in Nickel Production
The expansion in Indonesia includes significant developments like Shuoshi's commissioning of 12 Rotary Kiln Electric Furnaces (RKEF) and NNI's ongoing project, which involves six of eight planned RKEF lines. Moreover, Ningbo Lygend's nickel pig iron (NPI) project showcases substantial production, with its subsidiary HJF already at full capacity since August 2023, and its second phase under construction aiming for completion by 2026. NPI, with its high nickel content, remains crucial for stainless steel manufacturing, underscoring the strategic importance of these expansions.
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