India’s major stainless steel producer, Jindal Stainless (Jindal) has commissioned its nickel pig iron (NPI) smelter in Halmahera, Indonesia. The plant has the capacity to produce 200ktpy NPI, containing 14% Ni (28ktpy Ni).
Jindal produces 2.9Mtpy stainless steel and the company’s nickel requirements reportedly total 125ktpy Ni.
NPI has quickly grown to become the key, low-cost stainless steel feedstock and now represents by far the most abundant form of nickel to the market.
Jindal’s development also serves to illustrate the incredible speed at which NPI capacity has, and continues, to be brought online in Indonesia. In this case, it took a mere 18 months from a deal being signed to the plant being commissioned. However, it may not be possible for companies to replicate these successes over the medium term, given that the Indonesian government is rumoured to be considering limiting future development of NPI capacity in the next few years to preserve its nickel resources for higher-value battery-grade products.
