Australian Nickel plans to raise funds to expand the Excelsior nickel-cobalt project in Indonesia

Australia's Nickel Industries said on Friday it plans to raise A $943 million through a rights issue and has signed an agreement to reduce its investment in the Excelsior nickel-cobalt (ENC) project in Indonesia. The company will issue approximately 20% of its shares to PT Danusa Tambang Nusantara, a subsidiary of PT United Tractors Indonesia.

Jiusteel stainless 2507 dual-phase stainless steel production batch volume once increased by 160% compared to the previous period

On May 26, the lights in the cold rolling mill of Jiusteel Hongxing Stainless Steel Branch were bright, and the hot line area of the acid withdrawal area once again organized the production of 2507 duplex stainless steel, which was difficult to produce, and the production batch volume was 160% higher than that of the previous period, which was unprecedented. Finally, under the joint efforts of the staff in the hot line area of the acid retreat area, this batch of high-strength ultra-corrosion-resistant 2507 duplex stainless steel successfully completed production, and also created the largest amount of single production.

Zhongbo Building Materials cold-rolled sheet stainless steel project officially started construction

The project mainly relies on stainless steel raw materials produced by Inner Mongolia Jingan Nonferrous Metals Co., Ltd. for deep processing. Two cold-rolled sheet metal equipment will be installed, with an annual production of 50,000 tons of cold-rolled sheet stainless steel, of which 20,000 tons will be used to make stainless steel inlet pipe products and 30,000 tons will be used to make stainless steel coating products for the maintenance structure of the building.

Heavy rain affected the production of steel mills

According to the 24-hour rainfall statistics of the Central Meteorological Observatory, Beihai has become the country's largest rainfall place for two consecutive days, from 8 o 'clock on the 7th to 8 o 'clock today, the cumulative rainfall of up to 537 mm! According to the news, due to the impact of heavy rainfall, the local large state-owned stainless steel factory suffered power damage and the entire production line of equipment was suspended. At present, the steel mill is working fast to restore power, and it is expected that a steelmaking process can be resumed within today, and the recovery time of the whole line is expected to be about 5 days. However, there is news that the water has also caused some impact on the road, and currently transport has been affected.

POSCO launches new low-carbon steel products

South Korea's PoSCO launches its first low-carbon brand, Greenate Certified steel. Greenate certified steel can reduce carbon emissions in the production process by introducing low-carbon production technologies and using low-carbon iron materials, and POSCO will produce approximately 200,000 to 300,000 tons of new low-emission steel per year. From January to August last year, the mill began to increase the use of pellet steel and scrap steel in blast furnaces and converter furnaces respectively, reducing 590,000 tons of carbon emissions through the process, the company said.

Indonesia is running out of low-grade nickel

On June 7, 2023, Indonesia officially ran out of nickel stocks. The government has apparently discussed the possibility of taking action against low-grade nickel smelters. The EU falls far short of its own green steel standards and has made no progress on renewable energy and green hydrogen. China still needs a lot of high-grade nickel. Labour costs will soon be the biggest cost factor in the mining industry.