4 days ago
Nickel Giant Tsingshan Cuts Indonesian Stainless Steel Output
The world's biggest maker of stainless steel has suspended some production lines in Indonesia, in a bid to support prices as sluggish demand and trade uncertainty weigh on the market.
China's Tsingshan Holding Group Co., also the top producer of nickel that's used in the alloy, halted some stainless steel output earlier this month at the Indonesia Morowali Industrial Park on the island of Sulawesi, according to people familiar with the matter. The move is likely to support stainless prices, while pressuring the nickel market. Both hit five-year lows in April.
