Shanghai Nonferrous Metals News
Despite several NPI development projects underway in Indonesia, most lack a clear commencement date. Indonesian’s NPI output growth in 2020 is expected to come from Indonesian Tsingshan and Virtue Dragon (Delong). Indonesia’s NPI output is expected to increase to 530 kt (in Ni metal) in 2020, up 49% y-o-y. Approximately 210 kt (in Ni metal) of NPI output will be consumed by Indonesian’s stainless steel mills domestically, with the remaining product to be exported to China. Consequently, Indonesian’s NPI exports will exert extra pressure on domestic NPI smelters with high production costs and unstable ore sources, causing a shuffle in the industry in 2020.