In South Korea, improved demand for non-ferrous metals, which prompted leading companies to further expand the industry. For the purpose of production of nickel, zinc and aluminum, significant investments will be made in the sector.
This month StandardFirmCo Company., Ltd is, focused on the production of aluminum blanks, completing the construction of another office. The plant is located in the industrial park Gangwon Munmak. Manufacturing is equipped with three 60-tonymi, three 50-ton and two 100-ton furnaces. In case of successful implementation of the project after the start of operation of the facility the annual production capacity StandardFirmCo., Ltd will reach 304,000 tons. Most of the products will be exported towards Pakistan, Israel and the United States. In February 2015, the company entered into an agreement with India on supply of aluminum billets. We consider a similar agreement on cooperation with Pakistan and Israel.
Metallurgical production of non-ferrous metals, Korea Zinc Inc, in the middle of this year ends the construction work on the construction of the park-ferrous metals. It is located in Onsan-eup, Ulju-gun Ulsan. The annual production capacity reaches 130,000 tons. Of these, zinc accounts for 27 000 tonnes of copper — 4300 tonnes of silver — 829 tons of gold — 32 tons. To date, the company's annual production capacity is 300 000 tonnes of lead and 560,000 tonnes of zinc, 2,000 tons of silver and 7 tonnes of gold. In order to further expand production capacity, the company bought land in Ulsan.
The joint venture PohangIron & SteelCorporation and Mining Company, the company «Société du Nickel» (New Caledonia), puts into operation a new furnace. This month, two ovens were installed. At the same time the company's annual production capacity has reached 84,000 tons.
At the same time, analysts are in no hurry to raise forecasts for the price of non-ferrous metals. On the contrary, representatives of Morgan Stanley Bank decreased the nickel price to 14,815 thousand. USD / ton. The cost of copper has fallen by 16%, to the level of 5,945 thousand. USD / ton. The forecast for 2016 has also changed. Nickel prices fell by 19% to a level of 16.094 thousand. USD. The price of copper has decreased to the level of 6,283 USD