Change time

Nickel: consumption and price increases

Company from South Korea «POSCO» is not going to retreat from its own development POSNeP process aimed at the processing of low-grade nickel ore. Currently completing the optimization of technological processes at the pilot plant. Work on the project is carried out in the RIST, research institute, the process itself involves the allocation of nickel sludge or dust and nickel hydrometallurgical processing. In the future it is planned to put the process developed on a commercial basis. The proprietary technology in the case of successful completion of the ongoing development will give the company the opportunity to use significant quantities of low-quality raw materials for nickel smelting enterprises for the production of stainless steel belonging to it.

The desire to increase nickel production is quite clear — its consumption is growing. For example, one only Japan in 2013 increased the volume of consumption of nickel by 7.8 per cent compared with 2012. As evidenced by the reports provided by the Ministry of Economy, the nickel consumption amounted to 43.948 million tons in 2013. In the period from January to September last year, the product consumption increased by 2.6% compared with 2012, which amounted to 32.455 thousand tons, and increased by 33.7% in September, the nickel consumption in comparison with last year's data, which amounted to 4,074 thousand tons. Imports meanwhile reduced: in September last year figures were 16.8% less than the year before last data, the digital equivalent of the amount equivalent to 355.941 thousand tons.

A company «Jinchuan Group» between the nickel cost increases — in May, prices rose by 3%. For example, the price of nickel in early May amounted to 128.3 thousand yuan per ton, higher than the previous figure of 500 yuan per ton. Earlier the company «Jinchuan Group» has completed the construction of the plant for the production of copper with a capacity of 300 thousand tons of the red metal per year. The plant is already equipped with a rod rolling line of copper and continuous casting, and after the launch of its operation in production of wire rod promise to reach 450 thousand tons.

The annual profit of the company «Jinchuan Group Ltd» on average reaches 6,016 billion yuan, so that it is considered one of the leading producers of nickel and cobalt in China.

See all news