www.ferroalloynet.com: On September 14, the keynote speech of the 2023 FerroAlloyNet 24th International Chrome & Nickel & Stainless Steel & New Energy Forum was hosted by FerroAlloyNet and co-organized by Jiangsu High Hope International Group Corporation. Representatives from industries gathered in Nanjing to discuss and learn from each other Discuss and exchange ideas on the future development pattern of the Chrome & Nickel & Stainless Steel industry.
Mr. Jin Yongfu, Vice President and Party Committee Member of Jiangsu SOHO Holding Group, delivered an opening speech for the meeting.
Indonesian Nickel Miners Association(APNI)Meidy Katrin Lengkey brought a wonderful sharing of "Overview of the Indonesian Nickel Industry and Outlook of Supply and Demand of Nickel Ores from the Perspective of the Indonesian Nickel Miners Association". The report pointed out that Indonesia, as the largest country in nickel production, in order to elevate its national strategic position from a raw material supplier to an upstream position in the value chain Indonesia's Jokowi government issued a nickel ore export ban in 2020, banning the export of unprocessed nickel ore. Recently, the Indonesian government launched an integrity investigation by the Ministry of Energy and Mines, resulting in the slow approval of new production quotas for various nickel mines. In addition, some mines are unable to continue shipments due to exhaustion of production quotas the supply tension in the nickel ore market has spread.
Looking at the start of the stainless steel market in H1, the situation was not ideal. Strong expectations collided with weak demand. The situation of stainless steel inventory accumulation was once serious. After the price plunged, steel mills saved themselves by cutting production. After the second quarter, as the support of raw materials rebounded and steel mills destocked faster, steel prices rose again. However, due to transaction restrictions, common prices fluctuated repeatedly within the range. Expectations of strong consumption of stainless steel have yet to be realized, steel mills' profits have declined, and the launch of new production capacity has been slow. Mr. Fan He, a senior expert in the stainless steel industry, brought "How will the the stainless steel industry chain develop" and gave detailed answers on the current development status of the stainless steel industry chain, the current situation and how to deal with it in the future.
Univest Mining Group (Pty) Ltd. gave corporate presentations.
As the new production capacity of high-carbon ferrochrome develops in the direction of large-scale production, the rigid demand for chrome concentrate in South Africa has further strengthened. At the beginning of 2023, due to various factors such as transportation and terminals in South Africa in the early stage, there were fewer arrivals in the first half of May, which stimulated the spot price of South African powder to rise to about 58 CNY/DMTU, until it rose to 60 CNY/DMTU in mid-May. At the same time, the price of South African powder futures surged to around 310 USD/Ton. In 2023, the prices of ferrochrome significantly dominated by the prices chrome ore. On the one hand, ore prices provide floor protection for iron prices, and on the other hand, they also greatly limit factory profit margins. At present, the world has entered a new period of turbulence and change. It is experiencing major adjustments, major divisions, and major reorganizations. Uncertainty, instability, and difficult factors are increasing. Ms. Tingting Yan of LANDWORLD MINERALS CO.,LTD. brought " New Era of Chrome Industry ", which comprehensively analyzed the data evolution of stainless steel, domestic and international production of ferrochrome, and the supply, demand and development of the chromium industry.
Domestic alloy production companies rely on the import of nickel ore and chromium ore, so the fluctuations in the operation of bulk carriers and container ships play a decisive role in the normal operation of the nickel-chromium industry. At present, China is continuously introducing various stimulus policies to stabilize foreign trade and promote development, but it is also faced with many challenges in the global economy. How will the subsequent maritime shipping situation be? Mr. Jiaming Zheng from EASTERN OCEAN TRANSPORTATION PTE.LTD brought "International Shipping Market Analysis", gave an overview of macroeconomics and commodities (coal/iron ore/grain/small commodities), and explained the fleet size and supply and demand.
Ms. Ling Xie from the Ling Xie, ITG FUTURES CO., LTD. brought " Analysis on Nickel and Stainless Steel Market ". The report pointed out that since 2023, the trend of stainless steel has been resonated by multiple factors, and the volatility has been significantly amplified. On the macro front, the second wave of inflation in the United States still worries the market. The domestic economy is showing a weak reality. The country continues to roll out policies to stabilize growth. We will pay attention to the actual implementation of real estate policies in the future. From a fundamental point of view, new production capacity on the raw material side continues to increase, but it is still necessary to pay attention to changes in nickel-related policies in Indonesia and the Philippines. The implementation of relevant policies may increase the focus of raw material prices. Stainless steel itself has many new production capacity plans, and demand has also improved with the gradual restoration of real estate completions. The overall situation is an increase in supply and demand. In the short term, we will pay attention to whether peak season expectations can be fulfilled. Short-term stainless steel cost support still exists, but the overcapacity pattern of stainless steel continues, and terminal demand is still facing tests. Steel prices may maintain wide fluctuations in the near future, and the mid- to long-term price center is still expected to move downward. However, we need to be wary of Indonesian and Philippine policies, macro events, etc. the coming stage market.
Unichrome AG Dmitriy Ossinin conducted an in-depth analysis of the " Global Ferrochrome and Ferroalloys Market Development through 2023 and Beyond". The report pointed out that the international ferrochrome demand is growing faster than supply, and the risk of economic recession, inflation and interest rate increases have a significant impact on demand. It hinders supply-side investment, thereby causing supply risks after normalization. The extreme uncertainty of the geopolitical situation has further reduced the confidence of the steel and ferroalloy industry.
The current supply and demand of nickel are still in the expansion cycle, but the mismatch of the supply and demand expansion cycle and other factors have caused fluctuations in the market. Mr. Kui Chen from Xiangyu Hongda Supply Chain Co., Ltd. brought "Current Situation and Prospect of Nickel Industry" to conduct in-depth analysis on the current status and prospects of global nickel, Chinese nickel, and Indonesian nickel industries.
In 2022, global new energy vehicle sales will be 10.522 million units, and China's new energy vehicle sales will be 6.887 million units, a year-on-year increase of 93.4%, contributing 65% of global sales, and ranking first in the world for eight consecutive years. China has become the driving force behind the global an important engine for the development of new energy vehicles. As the main raw material for new energy vehicle batteries, the market trend of lithium salt has attracted much attention from the market. What will happen to the fundamentals of global lithium salt supply and demand? What will be the trend of lithium prices in the long term? Mr. Chao Tan, HIGH HOPE ZHONGDING CORPORATION brought "Lithium Industry Chain Analysis and Future Prospects". The report gave a comprehensive explanation of the lithium industry chain analysis; lithium market review; and lithium market future prospects.
Mr. Yuan Zhang from CITIC Futures Research Institute Institute brought the "Nickel Downstream Demand and New Energy Market Analysis and Prospect ". The report pointed out that the downstream of nickel is mainly stainless steel, batteries, electroplating, and alloys. In recent years, with the rise of the new energy electric vehicle industry, the demand for nickel in the battery industry has increased significantly compared with the previous period, and the structural and core concerns of the industrial chain demand are also constantly switching.
At this point, the 2023 FerroAlloyNet 24th International Chrome & Nickel & Stainless Steel & New Energy Forum has come to a successful conclusion. Here we sincerely thanks to:
The co-organizer of this conference: Jiangsu High Hope International Group Corporation
Strong support unit: Guangxi Qirun Wantai Industrial Co., Ltd.
Sponsors:
Zhejiang Ruixing Mineral Resources Co., Ltd.
Hunan Tengfei Mining Co., Ltd.
Sichuan Minghong Hengjin Technology Co., LTD.
JIANGSU PROVINCIAL FOREIGN TRADE CORPORATION
Dalian Pro Top International Trade CO.,LTD
Shanghai Equeen
TsingShan Holding Group
Henan Bangze Industrial Co. LTD
Sumec international technology Co., Ltd.
BEIJING BUFFALO INTERNATIONAL TRADING CO.,LTD
Shuozhou Ouding Metallurgical Co. LTD
Chongqing Zuoshi Alloy Materials Co., Ltd
Sichuan Genier Import & Export Trade Co., Ltd.
Hanzhong Xinbo Furnace Charge Co., Ltd.
Inner Mongolia Yili Metallurgy Co., Ltd
ZHANJIANG YUESHI TRADING CO., LTD.
Nanjing Iron and Steel Group International Economic and Trade Co., Ltd.
Xinjiang Shunchang Xinrong International Trade Co,. Ltd.
Wuxi Baojin Metal Products Co., Ltd.
We would like to thank all the participating companies again for their strong support of this conference. and look forward to meeting again!