On March 21, the keynote speech of FerroAlloyNet 25th International Chrome & Nickel & Stainless Steel & New Energy Forum kicked off.
Thanks to the special support units for this conference: Hunan Wantai Steel Co., Ltd., Changsha Wanzhong Supply Chain Management Co. LTD
Diamond Sponsor: Mintal Group Ferrochrome Science and Technology Co.,Ltd
Great supporter: Sichuan Qianzhou Mining Co., Ltd
Sponsors:
Chongqing Zuoshi Alloy Materials Co., Ltd.
Inner Mongolia Yili Metallurgy Co., Ltd
JIANGSU PROVINCIAL FOREIGN TRADE CORPORATION
Ningbo Shanshan Energy & Chemical Co., LTD.
Kunming Huiyun Economic & Trade Co.Ltd.
Xin Gang Lian(Shanxi)Holding Group Co., Ltd.
Sichuan Minghong Hengzheng Technology Co., LTD.
Elyesa Trading SA
Zhejiang Ruixing Mineral Resources Co., Ltd.
Inner Mongolia Risheng Zhibo Metallurgical Co., Ltd.
Dalian Pro Top International Trade CO.,LTD
Qingtuo Group
Henan Bangze Industrial Co. LTD
Sichuan Genier Import & Export Trade Co., Ltd.
Guang'an Wonderful New Materials Co.,Ltd.
CHINA UNITED SME GUARANTEE CORPORATION
Chongqing Fenglin Materials Co., Ltd.
Dongtai Huading Special Steel Plant
Hanzhong Xinbo Furnace Charge Co., Ltd.
Hangzhou Xinliansheng Minerals Co.,Ltd
Pinglu Changlong Special Steel Furnace Charge Co., Ltd.
Jingdian (Shanghai) International Trade Co., Ltd.
Inner Mongolia Hongsheng New Materials Co., Ltd.
Hongyi International Trade HK Co., Limited
Beijing LY Metals and Mining Co., Ltd
Dalian Zintal Products Co., Ltd
Wuxi Qianbao Metal Materials Co., Ltd.
Sichuan Jinyan Trading Co. LTD
Jiangsu Xinhai Changyang International Logistics Co., Ltd.
Runtianlong(Tianjin) International Trade Co., Ltd.
Supporter: APNI (Indonesia Nickel Miners Association)
Kou Ning, from First Futures Co.,Ltd., gave a wonderful sharing on Returning to a New Balance - Analysis and Prospects for Domestic and Foreign Macroeconomy in 2024. The report pointed out that since 2023, china's economy has withstood the downward pressure brought by risk challenges from abroad and the intertwining of multiple domestic factors. GDP grew by 5.2% in the first three quarters, and the economic growth rate further rebounded towards the potential growth level. In 2024, the fundamentals of china’s long-term economic growth have not changed. However, the external situation remains complex and severe, and the confidence and expectations of market entities still need to be improved. The "triple risks" in economic development still deserve attention.
Due to the difference in quality of S.A chrome ore ROM, there are problems in upstream and downstream settlements, and the price of S.A chrome ore ROM in the internal and external markets is affected. How can the problem of discrepancies be resolved as much as possible, and what procedures should be in place for quality inspection of S.A chrome ore ROM? How to standardize the quality inspection process is a common concern for both upstream and downstream of chrome ore. Qi Liang, Stratore China representative gave detailed answers on "Experience in Quality Inspection of South African ROM".
Facing the uncertainty of Indonesian policies, the global economy, geopolitical situation and the development of new energy industry, the global nickel market will continue to face unknown challenges in 2024. Indonesia, as the focus of the market, how will future nickel industry development and policy changes to affect the world nickel pattern? Ms. Meidy Katrin Lengkey, Secretary General of APNI (Indonesia Nickel Miners Association), presented Indonesia Nickel Overview Impact on World Nickel Price. The report pointed out that under the influence of high costs, weak demand, oversupply, and the world economic environment, the domestic and foreign nickel market patterns have quietly changed in 2023. Affected by the oversupply of international nickel, nickel prices have fallen sharply by more than 40% in the past year. As the fifth largest nickel producer in the world, Australia, major producers such as BHP, IGO, First Quantum, etc. are taking actions in recent months to respond to current market conditions and future market uncertainty. Indonesia has the world's largest nickel reserves. Under the leadership of Jokowi's nickel downstream policy, it has attracted a large number of investments from Chinese companies and revitalized the downstream development of Indonesia's nickel industry. Indonesia's incoming President Prabowo said he will continue to implement Jokowi's policies, but he will promote the strengthening of the nickel industry while solving the oversupply problem to boost nickel prices.
Wang Xun, from CHINA NATIONAL MINERALS CO., LTD., gave a wonderful speech on Game Theory and Supply Security in the Chrome Industry Chain. She pointed out the significant changes in the market structure: the increase in mineral supply, the further release of ferroalloy production capacity, and the important transformation of the industry towards high-quality development. She believes that in the context of increasing global awareness of environmental protection, the green transformation of the ferroalloy industry is not only a trend, but also a key step towards our global sustainable development goals. In this market context, industry participants are experiencing a fierce game. This kind of game not only demonstrates the vitality of the market, but also reflects the challenges and opportunities we face.
Vijay Singh, from Balasore Alloys Limited presented Indian market scenarios for chrome, ferrochrome and stainless steel. The report pointed out that in 2023, China's steel market was burdened by the collision of "strong expectations and weak reality". The period of low steel prices has been extended, while costs have remained high, resulting in overcapacity and industry losses. The price of chrome ore provides strong cost support for the price of ferrochrome and provides guarantee for the price stability of ferrochrome. However, most of the time, the increase in prices of ferrochrome is not enough to cover the increase in prices of ore, and factory profits have seriously shrunk. And with the large-scale new production capacity in the north being put into operation one after another, the supply of high-carbon ferrochrome has repeatedly hit new highs, and the game in the industrial chain has intensified. He believes that India, as one of the fastest growing economies, has shown an extraordinary growth trajectory. The current status and prospects of India's ferrochromium and stainless steel markets deserve attention.
Levent Seckin, a Trade Director of Delta Star Group presented Today and the future of Turkish Chrome Ore. The report proposed that Turkish chrome ore prices were relatively stable overall in 2023. The Red Sea incident broke out in December, which directly affected Türkiye 's chrome ore shipping routes. Container shipping costs have risen rapidly. As of mid-March, the price of Turkish chrome ore has increased by 30 USD/Ton. On the other hand, the current domestic downstream alloy prices have not improved significantly. How Türkiye’s chrome ore prices develop in the future is still worthy of attention.
Zhang Bohao, form Baosteel Resources Holding(Shanghai) Co., Ltd., brought the chrome, nickel, and stainless steel industry moves forward courageously and positively, and made guesses and prospects for the market in 2024. Judging from the review of nickel ore mentioned in the report in 2023, the nickel element has entered a comprehensive surplus situation, and nickel ore prices have weakened throughout the year. Chrome ore has fluctuated at high levels throughout the year, with prices and supply soaring. In 2023, domestic production of both 200 series and 300 series will hit a new high. However, stainless steel prices overall show weakness, with prices falling all the way. With prices falling rapidly at the end of the year, steel mills fell into losses. After becoming hopeless in the short term, they began to reduce production, and prices stabilized at the bottom.
Evgeny Semakin, from Norilsk Nickel brought Nickel Market Update: Is There Enough“Green”Nickel During the Low Price Period? The report pointed out that recently, mining companies around the world are calling for a premium for sustainably produced "clean nickel" traded on the London Metal Exchange. The reason is that a large amount of Indonesian nickel supply has poured into the market, and its low-cost and low-price advantages have had a certain impact on high-cost producing countries such as Australia and squeezed the profits of manufacturers. There are growing calls for LME nickel pricing to reflect strict environmental and governance standards to provide customers with more choice. Australian iron ore giant Andrew Forrest said last month that the London Metal Exchange should separate its nickel contracts into "clean nickel" and "non-clean nickel." Andrew Forrest's nickel mine Wyloo also recently said that if the London Metal Exchange Without the launch of a green nickel contract, the industry will have to find another trading venue. In addition, YILDIRIM GROUP also expressed its full support for the recent discussion on the implementation of "green nickel" pricing on the London Metal Exchange (LME). During such a volatile period for nickel prices, the future of "green nickel" will continue to come under pressure if current market conditions persist.
With the update and upgrade of terminal demand, the feedback from the ternary market at the beginning of this year was relatively good. As the main raw material of ternary, lithium hydroxide also needs attention. Lu Xiaoqi, from China-Base Ningbo Group Co., Ltd., gave a wonderful interpretation of Cost and supply-demand analysis of global lithium hydroxide.
Zhang Lin, Consulting Director of FerroAlloyNet Nickel Department, delivered a research report on Fundamental analysis and prospects of NPI. The report pointed out that Indonesia's new ferronickel production capacity continues to be put into production, and the surplus situation of ferronickel is difficult to change; and the uncertainty caused by Indonesia's policy risks has caused the price of Indonesian nickel ore to fluctuate, becoming the focus of market attention again, and the market is also facing unknown challenges.
At this point, the FerroAlloyNet 25th International Chrome & Nickel & Stainless Steel & New Energy Forum has come to a successful conclusion. We'd like to thank all the participating companies again for their strong support of this conference and look forward to meeting again!