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voda 6 april 2023 11:45

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Australia: Nickel prices to average $24,200/t in 2023
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Nickel prices are expected to average $24,200/tonne in 2023 as increased production from Indonesia cools prices, according to the Australian government’s Resources and Energy April quarterly report seen by Kallanish.

While continued demand growth coupled with slowing global production is projected to move the market into deficit beyond 2027, the report says prices will still be lower than current levels at $19,900/t in 2028.

The report forecasts global mined nickel production to rise by 7.2% in 2023 to 3.4 million t, with Indonesia accounting for four-fifths of this increase. It says Indonesia will continue to lead global mined production growth out to 2028, when it is projected to reach almost 3.8m t.

It is noted that nickel prices averaged around $25,700/t in 2022 — a rise of 34% on-year. Growth was driven by the Russian invasion of Ukraine, as well as the fallout from the suspension of the LME nickel market.

Meanwhile, consumption for stainless steel production is expected to rise in 2023, in addition to accelerating growth in the production of battery technology.

Nickel demand is also forecast to grow 9.3% to 3.2m t in 2023 as a result. Growth in nickel demand is projected to remain robust in subsequent years, driven by both stainless steel and battery production.

Nickel consumption, on the other hand, is forecast to reach 3.8m t by 2028 — an average annual growth rate of 4.7% over the outlook period.

Meanwhile, after falling in 2021–22, due to the impacts of weather and labour shortages, Australian mined nickel production is forecast to increase by 8.3% in 2022–23 and reach 167,000 t. The country’s mined production is expected to peak at 253,000 t in 2025–26, before falling to 235,000 t in 2027–28.

The country's export volumes are forecast to increase to 164,000 t in 2022–23 and peak at 230,000 t in 2025–26, before easing out to 215,000 t in 2028.

Strong nickel prices over the past year have lifted nickel export earnings, which are forecast to grow by 14% to reach AUD 5 billion ($3.38 billion) in 2022–23. Softening nickel prices are expected to outweigh the increase in nickel export volumes over subsequent years, with export earnings projected to decrease to AUD 4.2 billion by 2027–28.

Siew Mung Tan Malaysia

voda 10 april 2023 09:23

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Stilride Unveils Electric Motorcycle with Origami Folded SS Frame

Swedish startup Stilride has recently unveiled its first electric motorcycle, the Stilride 1, which is not only eco-friendly but also uses recycled stainless steel for its ultra-lightweight chassis. The use of recycled steel is a step towards a more sustainable future as it reduces the need for mining new steel, which is a carbon-intensive process. Stilride's innovative manufacturing method called “industrial origami” is also more eco-friendly as it produces minimal pollutants compared to traditional welding methods. The method involves folding a single sheet of stainless steel to create the motorcycle's frame, which is defined by the company's software and brought to life by industrial robots and laser cutting.

The Stilride 1's chassis is made from high-quality Swedish steel, which is known for its durability and strength. The company uses a premium HUB motor system, single shock absorber, and multi-link rear suspension, along with a co-developed braking system.

In addition to its eco-friendly construction, the Stilride 1 also has a smart connectivity system that powers various features through the Stilcontrol app. The app includes features such as theft protection, geographical positioning, service diagnostics, and battery status control.

The Stilride 1 is designed for both motorcycle enthusiasts and those who value design and sustainability. The motorcycle is due to launch in 2024, with a cost of €15,000. Mr. Tue Beijer, CTO, and co-founder at Stilride, hopes that the Stilride 1 will lead to a new era of electric mobility.

Bijlage:

voda 11 april 2023 08:57

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US Imposes Preliminary AD Duty on Taiwan's Stainless Steel Imports

In a recent development, the United States Department of Commerce announced the preliminary results of the anti-dumping duty administrative review on certain stainless steel sheet and strip in coils from Taiwan. According to the review, the USDOC preliminarily determined that the sales of the subject goods from Taiwan were made at less than normal value during the period of review, i.e., July 1, 2021, through June 30, 2022. As a result, the USDOC assigned weighted-average dumping margins ranging from 4.3% to 21.1% to Taiwan's exporters and producers of the subject goods. The measure came into effect from April 6, 2023.

The USDOC has warned that importers of the subject goods from Taiwan should be prepared to pay the assigned dumping margins on their imports. However, the final results of the review are yet to be determined, and the margins may change in the final ruling.

The subject goods involved in the case are certain stainless steel sheet and strip in coils greater than 9.5 mm in width and less than 4.75 mm in thickness. The goods are classified under multiple Harmonized System (HS) codes, including 7219.13.00.31, 7219.13.00.51, 7219.14.00.30, 7219.14.00.65, and 7220.20.90.80, among others.

This is not the first time that the US has imposed anti-dumping duties on steel imports from Taiwan. In 2019, the US imposed anti-dumping duties on certain steel products from Taiwan, including steel nails and steel wire rod.

voda 11 april 2023 09:02

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Fitch Solutions revises down 2023 nickel price forecast
118 Views

Fitch Solutions is revising down its nickel price forecast for 2023 to $26,500/tonne from $30,000/t as global production volumes rise while the market remains in surplus, Kallanish notes.

The research house maintains the view that global nickel production will increase significantly in 2023 on the back of a ramp-up in Indonesia’s and China's output.

It forecasts a surplus in the market in 2023 of 283,100 t, expanding from the surplus of 112,800 t seen in 2022, as production rises alongside a comparatively weaker demand outlook.

According to Fitch Solutions, the main driver leading to oversupply in the global market is the ramp-up in Indonesia’s output due to greater investment in the country’s downstream nickel industry following the government’s ban on nickel ore exports in January 2020.

Despite a downwards revision to its forecasts, it notes that nickel prices in 2023 will remain elevated compared to historic levels due to growth in stainless steel and electrical vehicle (EV) production in 2023 – two key refined nickel consuming industries.

It forecasts Chinese refined nickel consumption to rise by 4% on-year in 2023 to 1.2 million t.

It notes, however, that the global economic slowdown alongside elevated inflationary pressures will present downside risks to global refined nickel demand, and thus prices, in the short term.

In 2024, it expects nickel prices to average $27,000/t, above the 2023 average, as demand outpaces supply while inflationary pressures ease and global nickel demand rebounds.

Beyond that, it expects nickel prices to increase at a faster pace in 2028, rising to $29,000/t as the market goes into deficit on the back of surging demand for nickel along with the rise in the production of EV batteries.

It forecasts nickel prices to reach $32,000/t in 2032 as demand growth outpaces that of supply with the market deficit climbing to 250,600t, putting upward pressure on prices.

Siew Mung Tan Malaysia

voda 12 april 2023 14:32

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Nippon Kinzoku to eExpand Stainless Steel Portfolio in Malaysia.

Japan-based Nippon Kinzoku has announced plans to build a new stainless steel strip cutting machine at its Malaysian subsidiary, Nikkin Malaysia, in June 2023. The company aims to enhance product quality and expand sales to Southeast Asian countries and India through this new addition. The new machine will produce stainless steel strips with thickness ranging from 0.05 to 1.0 mm and width of 10 to 450 mm. The expansion is expected to support the company's growth plans, and the new machine is anticipated to start production in August 2023. Nippon Kinzoku says "We believe that this investment will further expand our sales and contribute to enhancing our presence in Southeast Asia and India."

The move comes as part of Nippon Kinzoku's strategy to strengthen its foothold in the Southeast Asian market. According to the company, the new machine will enable more efficient production and enhanced precision. The company also expects to achieve better cost competitiveness and reduce lead time for its customers.

The company already has two stainless steel strip cutting machines at its Nikkin Malaysia subsidiary, which has been in operation since 1992. The subsidiary specializes in the production of stainless steel strips and sheets for a range of applications, including electronics, automotive, and medical industries.

voda 12 april 2023 14:37

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Tesla Cybertruck Prototype Spotted With Unique Steel Wheels

As the release of the highly anticipated Tesla Cybertruck draws closer, the automaker seems to be testing the truck thoroughly to ensure it meets the standards set during its unveiling. A promotional video ahead of the initial production of the pickup shows a Cybertruck prototype with unusual steel wheels at the Petersen Automotive Museum in Los Angeles. The prototype was part of the 'Inside Tesla' exhibit, showcasing the Cybertruck's robustness and strength. "I'm excited to see how the Cybertruck performs in real-world testing with those steel wheels," says a Tesla enthusiast. "It's clear that Tesla is taking their time to ensure the Cybertruck meets the high standards they set during the unveiling event."

The Cybertruck's original design was displayed during its unveiling event in November 2019, but the vehicle has undergone significant changes since then. The COVID-19 pandemic and Elon Musk's concern over the truck's size delayed the production, pushing the supply chain to the brink of destruction. The finalized design was confirmed recently, and Tesla expects to start building the truck this summer, with volume production set to begin in 2024.

Despite the delays and changes, the Cybertruck remains one of Tesla's most eagerly anticipated products, with over 1 million pre-orders. The truck's futuristic appeal, inspired by Blade Runner and The Spy Who Loved Me, has captured the imagination of many, and the prototype's unique steel wheels only add to the anticipation.

With the Cybertruck's release drawing closer, Tesla's thorough testing and attention to detail suggest that the company is determined to deliver a high-quality, durable, and unique pickup truck that lives up to its promises.

Bijlage:

voda 13 april 2023 14:34

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GCHL, PT IKI to carry out Indonesian nickel indices
102 Views

London-based Global Commodities Holdings Limited (GCHL) and the Indonesian foreign investment company PT Industri Kapal Indonesia (PT IKI) have signed a memorandum of understanding on Indonesian nickel index development and marketing. The proposed indices will include both an Indonesian Nickel Ore Index (INOI) and an Indonesian Nickel Index (INI).

This launch is expected to be game-changing as Indonesia is the world's largest nickel producer but doesn't have its own nickel index. Up-to-date pricing data from various market players will be used in order to increase neutrality. Futures exchanges may also utilise the indices when developing futures products.

According to GCHL's announcement, the nickel indices are fully supported by the Indonesian Mining Association (IMA) and will be used as a tool for the Indonesian government to control and monitor nickel mines, as well as downstream activities.

"It will be used by all stakeholders as a reference price for transactions, budgeting, and forecasting," it says.

The indices will also complement GCHL's goal to offer a platform, which will be open later this April, for Class 1 nickel purchasing and selling, Kallanish learns.

GCHL says: "The Class 1 nickel pricing will be derived entirely from trades and qualifying bids/offers on the GCHL platform, and GCHL will additionally permit trading in the PT IKI Index materials."

Recently, the London Metal Exchange (LME) announced a two-year action plan, which will be adopted from the end of the second quarter. Part of this plan is focusing on reassessing margin requirements and launching new nickel contracts focusing on the Asian markets to improve liquidity.

The LME will offer fast-track access and fee reductions for new Class 1 nickel products and remains open attitude in Class 2 nickel contract. It is working with Qianhai Mercantile Exchange, an HKEX company, in developing a China-based spot market for nickel sulphate and nickel matte to support Asian trade flows.

Kallanish Asia

voda 18 april 2023 10:18

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Argentina Starts AD Duty Probe on Stainless Steel Tableware

Argentina has initiated the first anti-dumping sunset review on imports of stainless steel tableware originating in Brazil and China. During the investigation period, the current AD measure determined in 2018 will continue to be effective.

The review follows an application filed by Argentine enterprise, Cincam, Sociedad Anónima, Comercial, Industrial, Financiera, Agropecuaria e Inmobiliaria.

The product involved in the review is wooden handle or plastic handle stainless steel tableware, classified under HS codes 8211.10.00, 8211.91.00, 8215.20.00, and 8215.99.10.

voda 18 april 2023 10:19

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US Fixes CVD on CR Stainless Steel from Korea

The US Department of Commerce has released the final results of the countervailing duty administrative review on certain cold-rolled steel flat products from South Korea. The USDOC concluded that Hyundai Steel and POSCO received de minimis net countervailable subsidies of 0.27% and 0.20%, respectively, during the period of review from January 1, 2020, to December 31, 2020. However, other producers and exporters of subject goods received countervailable subsidies during the review period, and the subsidy rate was set at 1.93%. In addition, the USDOC timely rescinded the administrative review on some companies, including KG Dongbu Steel and Dongkuk Steel.

The final determination by the USDOC is the result of a year-long investigation, which began in January 2021. The investigation covered the period from January 1, 2020, to December 31, 2020. The countervailing duties imposed on cold-rolled steel flat products from South Korea are aimed at protecting the US industry from unfair trade practices.

The CVD investigation was initiated based on petitions filed by ArcelorMittal USA, AK Steel Corporation, Nucor Corporation, Steel Dynamics and United States Steel. The petitioners had alleged that the Korean producers and exporters received subsidies that resulted in injury to the US industry.

voda 20 april 2023 07:43

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EU Imposes AD Duty on Stainless Steel Hot Rolled Coils from Turkey

European Union has imposed anti-dumping duties on the imports of stainless steel hot rolled coils from Turkey. The decision comes as an extension of the AD measures already in place for SSHR from Indonesia. The European Commission found that imports of SSHR from Turkey, completed using processed stainless steel slabs from Indonesia are circumventing the antidumping duty orders on SSHR from Indonesia.

The antidumping duty for the product in question is 17.3% for both countries. HS codes 7219 11, 7219 12, 7219 13, 7219 14, 7219 22, 7219 23, 7219 24, 7220 11, and 7220 12 apply to the product.

SSHR from Turkey accounted for about 8% of the total SSHR imported into the EU during 2020-2022. The EU's SSHR imports from Turkey had reached 58,000 metric tons in 2022.

voda 21 april 2023 08:41

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Nikkelproductie Glencore flink afgenomen

Wel iets meer kobalt.

(ABM FN) Glencore heeft in het eerste kwartaal vooral minder nikkel geproduceerd. Dit bleek uit productiecijfers die Glencore vrijdag publiceerde.

De nikkelproductie liep op jaarbasis terug met 32 procent. Ook werd er 31 procent minder zilver geproduceerd.

De productie van lood en zink daalde met 16 en 15 procent.

Wel werd er door Glencore 8 procent meer kobalt geproduceerd.

De productiecijfers waren volgens Glencore zoals verwacht. Er werden door de grondstoffengigant enkele zink- en loodmijnen in de Amerika's gesloten gedurende 2022.

Glencore herhaalde de productieverwachting voor heel 2023.

Door: ABM Financial News.

pers@abmfn.be

Redactie: +32(0)78 486 481

voda 24 april 2023 07:54

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SpaceX: Blasting Boundaries and Beyond

SpaceX’s Starship mega-rocket is unlike anything the company has ever built before, with a predominantly silver appearance made from a non-corrosive alloy called 300-series stainless steel. Most rockets are made from lightweight metals such as aluminum and titanium, as steel is heavy and can impact payload capacity. However, steel performs better in extreme temperatures than titanium, which is especially important for deep space travel.

The rocket's two-stage design consists of the first stage rocket booster, Super Heavy, and the second stage spacecraft, Starship, which are completely silver and half silver-half black, respectively.

The silver color of Starship comes from the stainless steel used to build it, making it the first rocket made of steel since the 1950s.

SpaceX’s black-studded Starship spacecraft has a black underbelly, which consists of a series of heat-resistant hexagonal tiles made of silica to protect it from scorching temperatures during Earth's atmosphere re-entry. The hexagonal shape is an extra measure to prevent the spacecraft from overheating and exploding.

Founder Mr. Elon Musk has big plans for the rocket despite the recent explosion shortly after lift-off. The Starship spacecraft is designed to shuttle humans to the moon and Mars, which will expose the spacecraft to temperatures as low as minus 270 degrees Celsius.

Bijlage:

voda 28 april 2023 10:32

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Acerinox's Q1 Results Show Strong Improvement Over Q4 2022

Acerinox, the Spanish stainless steel company, has reported a significant improvement in its first-quarter results, with an increase in profit after taxes and minorities to EUR 136 million. The company's EBITDA for Q1 2023 was EUR 226 million, which is 2.5 times higher than in the final quarter of 2022. The revenue for the quarter was EUR 1,782 million, representing a 5% increase compared to the previous quarter. The increase in demand has led to increased production, with the Stainless Steel Division reporting a 36% increase compared to the previous quarter.

Mr. Bernardo Velázquez, CEO of Acerinox, said that the company is optimistic about the future, thanks to the better situation in the North American stainless steel market and the robust high-performance alloys sector. He expects a slightly higher EBITDA in the next quarter compared to the first quarter of the year.

Acerinox expects a slightly higher EBITDA in the second quarter, thanks to a strong North American stainless steel market and a robust high-performance alloys sector. The company also reported that inventory in its main markets is reaching normal values following strong importation rates in 2022.

Acerinox is a major player in the stainless steel industry, with a strong presence in Europe and North America. The company has manufacturing facilities in Spain, the USA, South Africa, and Malaysia. Acerinox specializes in the production of flat and long stainless steel products, and its products are used in a wide range of industries, including construction, automotive, and household appliances.

voda 16 mei 2023 07:47

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Acerinox Shines Bright with Gold Medal at Worldstainless Awards

In a resounding testament to its unwavering commitment to sustainability and safety, Acerinox has garnered the prestigious Gold Medal at the esteemed Worldstainless Awards. This remarkable achievement showcases the company's exceptional prowess in fostering sustainable practices and ensuring the well-being of its workforce. Adding to its accolades, Acerinox also received two Bronze Medals in the same categories, further solidifying its position as a leader in the stainless steel industry.

The recipient of the Gold Award in the Safety category was Bahru Stainless, recognized for its groundbreaking project titled "Smart Safety Zone." This innovative initiative revolutionized worker safety by incorporating intelligent sensors into barriers, effectively detecting and responding to human presence and movements. By leveraging early detection measures, this project significantly reduced accidents and injuries, exemplifying Bahru Stainless' dedication to safeguarding its employees.

Notably, North American Stainless was honored with the Bronze Award for its commendable application of "Ergonomic Aids for Heavy Lifting." This project showcased the company's commitment to enhancing worker well-being by implementing ergonomic solutions that alleviate the physical strain associated with heavy lifting tasks.

The pinnacle of recognition, the Gold Award, was bestowed upon Acerinox Europe for its groundbreaking "Waste Water Reuse Project." This pioneering endeavor emerged as a potent solution to combat the detrimental impacts of droughts, as the company sought innovative ways to manage water resources and reduce its overall water footprint. Through this project, Acerinox Europe achieved a substantial reduction in water consumption, amounting to an initial decrease of 400m³ per week, showcasing their commitment to environmental stewardship.

In addition to its Gold Medal triumph, Acerinox also secured a Bronze Medal for its project titled "Annealing Furnace Revamping for Gas Saving," further highlighting the company's unwavering dedication to optimizing energy efficiency and resource conservation.

voda 23 mei 2023 10:52

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POSCO Unveils High-Strength Stainless Steel for Home Appliances

Strategic Research Institute
Published on :
23 May, 2023, 9:31 am

POSCO, the eSouth Korean steelmaker, has announced the development of a groundbreaking high-strength stainless steel, known as 430DP, specifically designed for application in home appliances. This remarkable creation, boasting a remarkable reduction in thickness by a staggering 20%, outshines its predecessors by exhibiting an astonishing 50% increase in strength.

POSCO ingeniously tackled the issue of strength limitations by elevating the heat treatment temperature to unprecedented heights. This ingenious approach has paved the way for standardized operating conditions within their manufacturing facilities, enabling the commencement of full-scale production.

Adding to the anticipation surrounding this monumental achievement, POSCO has recently entered into a noteworthy three-year agreement with South Korea-based Samsung Electronics.

voda 1 juni 2023 08:21

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Jindal Stainless Calls for CVD on Chinese Steel Imports

Strategic Research Institute
Published on :
1 Jun, 2023, 7:45 am

Jindal Stainless Ltd (JSL), the foremost stainless steel manufacturer in India, is advocating for the re-imposition of countervailing duties on Chinese stainless steel imports. These imports are priced at least 19% lower than Indian counterparts, posing a significant threat to the domestic steel industry.

In a letter addressed to the Revenue Secretary, Sanjay Malhotra, JSL emphasizes the need to safeguard Indian businesses from the surge in dumped and subsidized exports from China. The letter highlights that China has become the world's largest net exporter of stainless steel flat products, flooding international markets with excess supply.

JSL points out that several countries, including Brazil, Malaysia, Mexico, South Korea, Taiwan, Thailand, the USA, Vietnam, and various European Union nations, have already imposed duties on Chinese stainless steel imports. These duties have been in effect since 2013, specifically targeting products such as cold-rolled coils and stainless steel strips.

JSL is the second Indian company, following the Steel Authority of India Ltd (SAIL), to raise concerns about the impact of Chinese steel imports. According to the Directorate General of Trade Remedies (DGTR), Chinese imports into India have risen significantly since the suspension of countervailing duties in February 2021, reaching 44% on an annualized basis.

The DGTR's investigation reveals that the 200 series of Chinese steel products, which are subject to scrutiny, are subsidized and have caused substantial injury to domestic players. JSL highlights that approximately 50% of imports in this product category were priced below the direct cost of the Indian industry, while one-third were even below the raw material costs in India.

The impact on Indian steel manufacturers is severe, with JSL reporting a capacity utilization rate of only 77% due to production cutbacks caused by increased imports. The company cites instances of underutilized capacity and financial difficulties faced by industry players, further emphasizing the need for protective measures.

voda 6 juni 2023 08:05

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Nornickel forecasts higher-than-expected nickel oversupply
1951 Views

Russian miner Nornickel estimates a higher-than-expected surplus in the global nickel market this year, mainly led by the growing production of low-grade nickel in Indonesia.

The company, which claims to be the world’s largest high-grade nickel producer, says that “Indonesia is creating a supply glut and losing potential revenue by selling the country’s nickel resources at substantial discounts.”

It revised its 2023 forecast upwards from a 110,000 tonnes surplus to over 200,000 t. It expects an excess supply of 180,000 t in 2024, Kallanish learns.

According to the company, in early 2023, the price of nickel showed the worst performance of any non-ferrous metal on the LME. “This was caused not only by a largely speculative price increase of 45% in 2022 and subsequent correction, but also by worsening market fundamentals,” it explains.

The trend is due to a significant surplus in the Class 2 nickel market, starting in 2022 and set to continue during 2023-2024. At the same time, strong demand for metallic nickel in the alloys and special steel sectors supports LME’s Class 1 nickel prices.

Nornickel says global nickel demand has grown by an average of 7% per year since 2015. It now forecasts demand at 3.22 million t this year, from an earlier forecast of 3.34m t. The downward revision reflects lower stainless steel production in Indonesia and lower demand in the battery sector, amid a slowdown in EV sales and higher lithium iron phosphate (LFP) battery uptake. The latter’s chemistry doesn’t require nickel.

Meanwhile, nickel production is expected to remain virtually unchanged this year at 3.45m t, a 10% on-year increase. The growth is attributed to an increase in crude ferronickel production in Indonesia and the commissioning of new cathode production capacity in Indonesia and China, Nornickel says.

“Overall, nickel supply will exceed demand in China and Indonesia during 2024, while Western markets are expected to be fairly balanced,” it adds.

Longer term, the miner is optimistic about nickel demand growth driven by increased consumption in the battery sector, with sodium-ion batteries offering a new boost to demand. The battery technology contains nickel in its cathode.

Svetoslav Abrossimov Bulgaria

voda 9 juni 2023 07:41

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JSL Plans Mega Capex to Boost Global Presence

Strategic Research Institute
Published on :
9 Jun, 2023, 7:09 am

Jindal Stainless Limited (JSL), one of India's leading stainless steel manufacturers, has revealed its plan for a significant capital expenditure of $292 million in the current fiscal year 2023-24. This investment aims to support ongoing projects and finance recent overseas acquisitions, including Jindal United Steel and New Yaking.

According to a company official, the majority of the capital expenditure will be allocated to completing existing projects, while a portion will be dedicated to bolstering the recently acquired entities. In March of this year, JSL announced the acquisition of a 49% equity stake in nickel producer New Yaking, based in Indonesia. Additionally, JSL plans to increase its equity stake to 74% in Jindal United Steel.

JSL's Managing Director, Abhyuday Jindal, expressed the company's ambition to secure a prominent position among the top stainless steel manufacturers globally. He stated, "The goal is definitely to be among the top two or three stainless steel manufacturers in the world." Jindal emphasized that achieving this goal would depend on market conditions but estimated it could be realized within the next couple of years or four to five years at the latest. To accomplish this, JSL aims to augment its annual production capacity by an additional 1-1.5 million metric tonnes.

Currently, JSL produces 2.9 million metric tonnes per year of various stainless steel products. The planned capital expenditure reflects the company's commitment to expanding its global presence and increasing its manufacturing capabilities. By strategically investing in ongoing projects and leveraging recent acquisitions, JSL aims to strengthen its position as a major player in the stainless steel industry.

voda 9 juni 2023 07:45

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Jindal Stainless Takes a Leap for Green Hydrogen in Odisha Plant

Strategic Research Institute
Published on :
9 Jun, 2023, 7:20 am

In an interview with Mint, the Chief Sustainability Officer (CSO) of Jindal Stainless, Kalyan Kumar Bhattacherjee, highlighted India's favorable conditions for green hydrogen production. Access to clean water and renewable electricity positions India well to generate green hydrogen, a clean and sustainable energy source. As part of its commitment to environmental responsibility, Jindal Stainless has become the first stainless steel company in India to install a green hydrogen plant.

The company has set ambitious goals to achieve net-zero emissions by 2050. In the near term, they aim to reduce emissions by at least 50% from the baseline year of 2021-2022 by implementing various initiatives. These include energy substitution, feed mix optimization, energy efficiency, renewable energy adoption, carbon capture, and carbon offsets. To facilitate this transition, Jindal Stainless plans to increase its use of renewable energy and gradually phase out thermal power generation.

Jindal Stainless has partnered with ReNew Power to establish a 100 MW hybrid renewable energy project. Additionally, the company has initiated similar projects in Jajpur, Odisha, and Hisar, Haryana, with the goal of increasing the use of renewable energy and reducing reliance on thermal power. Furthermore, Jindal Stainless plans to replace fossil fuels with biofuels at its Jajpur facility and gradually transition to a green grid as renewable energy technologies mature.

The switch to green hydrogen is a significant step for Jindal Stainless. The company has already commenced a pilot-scale green hydrogen project at its Hisar manufacturing facility, which is expected to be operational by August 2023. This pilot project will help reduce carbon emissions by approximately 2,700 tonnes per year. Jindal Stainless intends to replicate this project at its Jajpur facility with a capacity of 700 Nm3/hr. Green hydrogen will be utilized in the bright annealing process for stainless steel production, replacing conventional hydrogen.

voda 16 juni 2023 08:36

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Jindal Stainless Ropes Dassault Systèmes for Production Planning & Execution

India's prominent stainless steel manufacturer, Jindal Stainless, has announced a strategic collaboration with Dassault Systèmes to enhance its production planning, scheduling, and execution processes. Following its recent merger and capacity expansion to 2.9 million metric tons per annum, Jindal Stainless aims to seamlessly manage its end-to-end production and operations between locations in Hisar (Haryana) and Jajpur (Odisha). By adopting an integrated and automated approach, Jindal Stainless seeks to achieve optimized resource utilization, efficient capacity balancing, real-time data synthesis, and accurate predictions, all while upholding stringent quality standards.

Mr. Abhyuday Jindal, Managing Director of Jindal Stainless, described the partnership as a bold step toward dismantling outdated systems and embracing digital transformation and automation. He highlighted Jindal Stainless' pioneering digitization of the entire customer journey in the Indian stainless steel industry and emphasized the current effort to integrate operational technologies through real-time dashboards for faster decision-making. These endeavors align with Jindal Stainless' vision of diversification, expansion, long-term growth, and innovation in the stainless steel sector. The implementation of DELMIA Quintiq and Apriso solutions plays a pivotal role in this transformative journey.

Corinne Bulota, Vice President of Infrastructure, Energy, and Materials Industry at Dassault Systèmes, emphasized the support provided by their solutions to environmentally conscious steel production, exemplified by forward-thinking partners like Jindal Stainless. By utilizing industry-specific solution experiences and leveraging DELMIA Quintiq and Apriso applications, Jindal Stainless gains real-time visibility, simulation capabilities, and optimization tools, facilitated by a single source of truth. The virtual twin experience of Jindal Stainless' production systems enhances operational efficiency, improves product quality, and empowers data-driven decisions toward decarbonization efforts in steelmaking.

Jindal Stainless will deploy Dassault Systèmes' "Operations Planning and Scheduling Excellence" industry solution experience, built on the 3DEXPERIENCE platform and powered by DELMIA applications. This deployment aims to meet customer targets, deliver reliable performance, and optimize processes. Anticipated benefits include a 10-15% reduction in lead time and an 8-10% decrease in work-in-progress inventory.

By streamlining processes and meeting customer demands more effectively, Jindal Stainless not only seeks to strengthen its position in key sectors such as automotive and infrastructure but also expand into new realms like lifestyle, aerospace, and defense. This partnership aligns with Jindal Stainless' commitment to sustainability, as it further reduces product diversions and quality rejections, ultimately minimizing its carbon footprint. These efforts will not only benefit the environment but also drive cost reduction and efficiency improvement for Jindal Stainless. Stay updated on this collaboration and its impact on the stainless steel industry.

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