According to data released by analysts, Indonesia's nickel pig iron production amounted to 100.4 kt in March, down 1.4 percent month on month and up 24.5% y-o-y. Nickel pig iron production in the January-March period was 303 thousand tons (+19.4% yoy). The annual increase in the indicator was realized despite the weak demand for the material from stainless steel producers and the slowdown in the commissioning of electrical equipment in the factories.
Meanwhile, high-grade nickel pig iron prices decreased in March to near zero profit margin, but the price of nickel ore also decreased, supporting factory profitability. In April, experts expect nickel pig iron production to increase by 4.8 percent compared to March to reach 105 thousand tons (+11.8%) due to the projected increase in 300 series stainless steel production in China.
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