China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
The global nickel market had a surplus of 11,900 metric tons in May, compared with a surplus of 13,900 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Tuesday.
That compares with a surplus of 18,800 metric tons in April 2023, Lisbon-based INSG added.
Data below in thousands of tons:
| May 2023 | May 2022 | April 2023 | 2022 | |
| Mine production | 296.4 | 272.2 | 290.3 | 3,210.8 |
| Refined production | 269.9 | 253.3 | 263.5 | 3,058.9 |
| Refined Usage | 258.1 | 239.4 | 244.7 | 2,956.4 |
| Balance* | 11.9 | 13.9 | 18.8 | 102.5 |
(By Rahul Paswan; Editing by David Goodman)
Comments