Nickel is in short supply, causing the price of stainless steel to rise
Nickel (Ni), which is approximately silver-white, hard and malleable and has a ferromagnetic metallic element, is highly polished and resistant to corrosion. Nickel is a pro-iron element. It is mainly used in the refining of stainless steel materials and is an indispensable element in stainless steel materials. Silicate can be used in many industries, it include different kinds of silicate, such as: Potassium Silicate, Potassium Sodium Silicate , Sodium Silicate and so on. Potassium silicate & Potassium sodium silicate with glassy lump and liquid mainly are used for welding industry, also can be used for Agriculture, oil drilling field. Powdery Instant Potassium Silicate is white powdery substance, can fast dissolve in water, resistant to cold and good uniformity. It is a special foamed alkali convenient to be used, transported and stored. Molecular formula: K2O·nSiO2·H2O, n varies with the specification the uses. Powdery Instant Potassium Silicate has better solubility and higher adhension compared with powdery instant sodium silcate and is widely used as adhesive in fireproof material, as auxiliary in drilling liquid of oil field and other special fields. Silicate Potassium Silicate,Potassium Silicate Sodium,Potassium Water Glass,Sodium Silicate SJZ Chenghui chemical co ltd , https://www.chenghuichemicals.com
Recently, due to Indonesia's restriction on raw ore output, the price of nickel has risen fiercely. Indonesia is one of the countries with the largest export of raw ore in the world. However, the export ban issued on January 12 this year has caused prices to rise, and the nickel mine has created a situation that exceeds supply. Thus pushing up the price of stainless steel. Another factor is the reasons caused by the current situation in Russia and Ukraine. Russia accounts for 12% of global nickel supply, so the turmoil in Russia and Ukraine will also have a huge impact on the supply of nickel. Western countries will impose economic sanctions on Russia to influence nickel. Rising prices are also one of the factors. Due to the recent market turmoil, China’s nickel inventories have been gradually declining and the prices of stainless steel materials have risen considerably. Now, some manufacturers and distributors have adopted price closures and other situations, causing the stainless steel market to generate less demand in recent years. .
According to the latest news, Indonesia is expected to have 9 nickel ore processing plants built this year, of which 2 are nickel-iron smelters and the remaining 7 are nickel-containing steel processing plants. However, analysts pointed out that the project also needs to build its own power plant, which is costly and it is difficult to alleviate the shortage of nickel ore within one or two years. Indonesia’s move should be aimed at vigorously developing the domestic economy to increase domestic demand, just as it did in China a decade ago, so as to make the country strong. (Foshan Zhiyu Stainless Steel Material Co., Ltd.)