Turmoil provoked by Tsingshan Indonesia across stainless steel markets in South East Asia and beyond
18 Jul 2019 16:29 reported by Margaret Yeh
According to the report, Tsingshan’s new stainless steel center in Indonesia brought a turmoil across South East Asia and beyond due to its competitive export prices.
Taiwan steelmakers were willing to use Indonesian stainless steel rather than melting its own, China imposed anti-dumping duties on Indonesian imports, India was working with Tsingshan on an investment in cold-rolled line which was about to go into operation, South Korea was varying its content of stainless grades to compete with Tsingshan’s new cold rolling mill, and Europe was worried that more and more Indonesian stainless steels might be imported to European markets.
The Morowali mill of Tsingshan Indonesia was considered as among the world’s lowest-cost stainless steel operation with competitive prices of hot-rolled coils and semi-finished products of slab, mainly because of its integration with nickel pig iron and also hot metal transfer of nickel pig iron.
The Morowali mill had put into production in mid-2017 with an annual production of 2 million tons. In 2018, the production was raised to 3 million tons per year. It was believed that the third line was commissioned but no further operation news had been revealed.
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