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Indonesia is growing into a major producer of stainless steel, with 2022’s output reaching 4.805 million tonnes and making it a key target market for global chrome ore and ferro-chrome suppliers, according to Shanghai Liying International Trade Co’s general manager Junhong Zhang.
“[Chinese stainless steel giant] Tsingshan has around 6 million tonnes of stainless steel capacity in Indonesia, and Delong may have another 2 million tonnes capacity there,” Zhang said, “[so] demand for chrome is increasing.”
In 2022, Indonesia imported 1.6 million tonnes of ferro-chrome, mainly from South Africa, Kazakhstan and India. And Tsingshan has a ferro-chrome capacity of 300,000 tonnes per year in Indonesia, with another 800,000 tonnes per year in capacity currently under construction.
“Tsingshan may [bring an] additional 0.4 million tonnes of ferro-chrome capacity into production in the second half of 2023 and it will need less imported ferro-chrome, but more chrome ore,” Zhang said. He said that would lead to “a change in global ferro-chrome trade flows.”
Zhang said they should pay close attention to the Indonesian market, which could have a huge impact on global supplies and prices for chrome ore and ferro-chrome. fastmarkets
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