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After the holiday, nickel prices have plummeted uncontrollably and may enter a period of fluctuation.

After the holiday, nickel prices have plummeted uncontrollably and may enter a period of fluctuation.

After the short holiday, London nickel once surged to 9,700 USD/ton, closing up 0.9%, with moving average indicators showing a bullish arrangement. However, due to the decline in surrounding markets, London nickel was dragged down, facing resistance in its upward movement, and the strengthening US dollar index put pressure on prices, leading to a closing drop of 1.1%. Market confidence has waned, and commodities are cooling down. As the weekend approaches, benefiting from short covering positions and hawkish comments from Federal Reserve officials, the US dollar index rose to a one-week high. The strengthening US dollar index has put pressure on commodities, leading to bearish sentiment, and concentrated selling resulted in a chaotic drop for London nickel, which fell by 5.16%. The support level is around 8,850 USD/ton, and a rebound may occur in the short term.

16

2016

/

06

China's Minister of Commerce: Resolving steel overcapacity requires global efforts.

China's Minister of Commerce: Resolving steel overcapacity requires global efforts.

China's Minister of Commerce: Resolving Steel Overcapacity Requires Global Efforts International Online Report (Reporter Wang Huanxing): Recently, the EU, Germany, and the United States have successively implemented trade protection measures on steel imports within a week, intensifying trade disputes in the global steel industry. It is noteworthy that many countries attribute the downturn in the steel industry to China. In response to the frequent trade disputes faced by Chinese steel, China's Minister of Commerce Gao Hucheng stated that steel overcapacity is a global issue that must be addressed collectively, rather than blaming a single country.

06

2016

/

06

The National Development and Reform Commission: The management measures for the subsidy funds for steel and other industries have been recently issued.

The National Development and Reform Commission: The management measures for the subsidy funds for steel and other industries have been recently issued.

On May 12, Zhao Chenxin, spokesperson for the National Development and Reform Commission, stated that the implementation plans for resolving excess capacity in the steel and coal industries have been completed in relevant regions, and the work to resolve excess capacity will fully enter the formal implementation stage. Recently, the management measures for reward and subsidy funds were issued. On May 12, the National Development and Reform Commission held a press conference on the macroeconomic operation situation. Zhao Chenxin introduced the situation regarding the resolution of excess capacity in the steel and coal industries at the conference.

17

2016

/

05

Many stainless steel smelting companies in Zhejiang have been eliminated.

Many stainless steel smelting companies in Zhejiang have been eliminated.

Recently, Zhejiang announced the list of backward and excess production capacities and the companies involved in 11 industries included in the provincial elimination plan for 2016, such as steelmaking, papermaking, leather, dyeing, chemical fiber, medical chemicals, metal smelting, casting, steel rolling, weaving, and sintered bricks. A total of 184 companies are involved, with 10 companies in the steelmaking sector, eliminating backward production capacity of 5.53 million tons, including some stainless steel production companies. The specific list is as follows: Hangzhou Iron and Steel Group Co., Ltd. 4 million tons, Yuyao Hexing Special Steel Co., Ltd. 200,000 tons, East China Stainless Steel Group Co., Ltd. 60,000 tons, Wenzhou Baofeng Special Steel Co., Ltd. 70,000 tons, Jiangpu Stainless Steel Manufacturing Co., Ltd. 150,000 tons, Qichang Stainless Steel Co., Ltd. 400,000 tons, Zhejiang Longding Machinery Co., Ltd. 150,000 tons, Jutai Holding Group Co., Ltd. 100,000 tons, Zhejiang Zhengyuan Stainless Steel Pipe Co., Ltd. 300,000 tons, Zhejiang Longhua Special Steel Co., Ltd. 100,000 tons.

17

2016

/

01

What changes have occurred in the steel industry in the "13th Five-Year Plan" arch-top area?

What changes have occurred in the steel industry in the "13th Five-Year Plan" arch-top area?

At a recent industry conference, Li Xinchuan, the director of the Metallurgical Industry Planning and Research Institute, stated that China's crude steel production has entered the downward phase of the peak arc. From a medium to long-term perspective, it has shown a trend of "peak arc + downward channel," although fluctuations and rebounds in certain years cannot be ruled out. Pig iron production exhibits similar characteristics, and as the amount of scrap steel resources gradually increases, the average decline rate of pig iron output over the long term will be faster than that of crude steel. The author believes that during the 13th Five-Year Plan period, steel companies should pay attention to the data changes in the downward channel of the peak arc, accelerate the promotion of transformation and upgrading, and drive innovation to tackle a series of challenging issues such as overcapacity, improving survival quality, and increasing industry concentration, ultimately achieving breakthroughs in difficult situations. One change: Crude steel output peaks. Forecast data indicates that this year's crude steel output will be 806 million tons, a decrease of 2.1% from 823 million tons in 2014. The crude steel output may be 783 million tons in 2016, 702 million tons in 2020, 624 million tons in 2025, and 560 million tons in 2030.

12

2016

/

01

Weekly International Stainless Steel Dynamics

Weekly International Stainless Steel Dynamics

The closure of two major nickel mines may lead to a reduction of 33,000 tons in nickel market supply in 2014. According to foreign media reports, in the past week, two major nickel mines announced production cuts, which are expected to result in a decrease of 33,000 tons in the nickel market supply for 2014. Brazil's Votorantim Metals announced that it will temporarily close the Fortaleza de Minas nickel plant due to the current poor market conditions. The company stated that the decision to halt production stems from a severe imbalance between global nickel supply and demand, leading to a significant drop in nickel prices. The nickel plant has an annual production capacity of 18,000 tons and is scheduled to cease operations in November this year.

29

2013

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10

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