Japan’s Pacific Metals: Stainless steel industry has indication of recovery
12 Aug 2021 15:33 reported by Joy Liu
Pacific Metals Co., the largest ferronickel producer in Japan, reported that its shipment of ferronickel increased in the second quarter of this year, implying a recovery in the stainless steel production of both domestic and foreign markets.
Pacific Metals has revised upward its expected ferronickel shipment by 12% to 13,047 tons for the April-September period from its previous estimate. Besides, the sales target during the period was also 35% higher than last year as the global economy has recovered from the COVID-19 epidemic and stainless steel production has increased.
Due to the epidemic, stainless steel production is still facing uncertainties, and the demand for ferronickel continues to be affected by overseas stainless steel mills turning to nickel pig iron due to its price competitiveness.
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