Indoferro cuts production on weak price
Wednesday, June 14 2017 - 12:12 AM WIB
By Thomas Sembiring
Cilegon-based Nickel smelter PT Indoferro cuts this year?s nickel pig iron (NPI) production target by one third due to declining nickel price, parent company Grwoth Steel Group said.
Jonatan Handojo, Director of Business Development told Petromindo.Com that this year Indoferro will produce only 90,000 tonnes of NPI.
Nickel price has plunged to around US$8,000 per ton since Indonesia decided to selectively allow ore export earlier this year.
Jonatan said until May this year, Indoferro has produced 40,000 tonnes of NPI. Last year the company produced 115,000 tonnes of NPI.
Editing by Alexander Ginting