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CRU forecast 2016 Chinese stainless steel production will increase by less than 2.5%

Source: Yangtze River Nonferrous Metals

"By 2015, China's stainless steel production fell to about 0.72%, reaching 21.51 million tons, while output growth in 2016 will be less than 2.5%, and the growth of 300 stainless steel items mainly from new production." December 10, 2015 the annual CRU (Institute of British goods) customer seminars, CRU market analyst Peng Jian Chan said.

Peng Jian added that in 2015, stainless steel production and profits continued to deteriorate, and continued weak demand led to massive loss of production. At the same time, resulting in deterioration of profits stainless financing difficulties, running hard after the domestic part of the project, the 60% of the cost of production is higher than $ 10,000 / ton. Stainless steel stock after the shift, the social stock continued to decline.

At the same time, China's nickel production costs at the beginning of the line significantly reduced, including electrolytic nickel. Imports continued inflows nickel plate nickel plate Shanghai stock continued to rise, sustained and stable arbitrage also attracted a large inflow of Chinese nickel plate.

Peng Jian added that in 2015, Chinese primary Nickel demand grew 1.15%, slowing global growth to 0.4%. In the current nickel prices, stainless steel scrap has lost its competitiveness, so in 2016 a native Chinese demand for nickel will remain slow growth. Monetary factors lead to a decline in oil prices and the global nickel refining costs, the high cost of 2016 Chinese primary nickel production will fall by 8%, to 53 million tonnes.

With the continued decline in Chinese production of nickel-iron laterite nickel ore supply tends to balance, in the case of loss of the whole industry chain, cost pressures in 2016 will be the transfer of mines.