The London Metal Exchange (LME) saw a sharp rise in nickel. Rumors spread that China Qingshan holding group was forced to hold short nickel futures contracts. This article is an introduction of Haitong international about Qingshan holding.
1. Qingshan Holdings: a leading stainless steel enterprise
Qingshan holdings is a private enterprise specializing in stainless steel production. It has formed a whole industrial chain layout from nickel mining, ferronickel smelting to stainless steel smelting, stainless steel continuous casting billet production and stainless steel sector, rod and wire processing. At the same time, it produces raw materials, intermediate products and new energy batteries in the field of new energy, which are mainly used in the fields of energy storage system and electric vehicles.
At present, the company's stainless steel production base is located in Fujian, Guangdong, Zhejiang and other major coastal areas of China, while overseas is located in Indonesia, India, the United States and Zimbabwe, with eight major production bases.
The company's main business includes stainless steel and new energy industry chain. According to the company's disclosure, its nickel equivalent production will reach Shanghai Pudong Development Bank Co.Ltd(600000) tons in 2021, 850000 tons in 2022 and 1.1 million tons in 2023.
2. Upstream resources: ferronickel business, layout of laterite nickel mine in Indonesia
The ferronickel business of Qingshan holdings in China is mainly distributed through Fujian qingtuo group. At present, qingtuo group has formed an annual production capacity of 1.8 million tons of nickel alloy. Foreign business is realized through Indonesia's Qingshan Park (IMIP) and widabe Industrial Park (IWIP), with a total capacity of more than 3.5 million tons / year.
3. Downstream traditional business: stainless steel production
In 2020, the output of stainless steel crude steel of Qingshan holdings reached 10.8 million tons, with a production capacity of more than 10 million tons. According to the company's official website, Qingshan holdings established the world's first rkef-aod stainless steel integrated production line in March 2008, and then began to layout stainless steel production bases in China. At present, the company has three production bases in Zhejiang, Fujian and Guangdong in China, mainly producing stainless steel crude steel, hot rolling and cold rolling. The overseas stainless steel layout is mainly distributed in Qingshan Park, Indonesia, and the integrated production of stainless steel is basically realized.
4. Development focus: new energy layout
In view of the rapid growth of the new energy vehicle industry, relying on the advantages of rich upstream resources, Qingshan group began to layout the new energy industry in 2017, and tried to build the whole new energy industry chain of "nickel cobalt mineral resources mining hydrometallurgy precursor cathode material battery application" from the two aspects of upstream nickel mining and downstream new energy product manufacturing. At present, the company has joined hands with Zhejiang Huayou Cobalt Co.Ltd(603799) and Gem Co.Ltd(002340) to develop laterite nickel ore in Indonesia to build a new energy battery nickel resource raw material manufacturing system; Join hands with XCMG group to enter the new energy vehicle industry. In addition, it also signed high nickel matte supply agreements with Zhejiang Huayou Cobalt Co.Ltd(603799) , Cngr Advanced Material Co.Ltd(300919) and agreed that Qingshan industry will supply 60000 tons of high nickel matte to Zhejiang Huayou Cobalt Co.Ltd(603799) and 40000 tons of high nickel matte to Cngr Advanced Material Co.Ltd(300919) within one year from October 2021.
I. Qingshan Holdings: a leading stainless steel enterprise
(1) introduction to the company
is rooted in the stainless steel industry and expands to the field of new energy Qingshan holdings is a private enterprise specializing in stainless steel production. It has formed a whole industrial chain layout from nickel mining, ferronickel smelting to stainless steel smelting, stainless steel continuous casting billet production and stainless steel sector, rod and wire processing. At the same time, it produces raw materials, intermediate products and new energy batteries in the field of new energy, which are mainly used in the fields of energy storage system and electric vehicles, It is one of the world's largest producers of ferronickel and stainless steel and a leading enterprise in China's stainless steel and ferronickel resources.
stainless steel production bases are all over the world at present, the company's stainless steel production base is located in Fujian, Guangdong, Zhejiang and other major coastal areas of China, while overseas is located in Indonesia, India, the United States and Zimbabwe, with eight production bases. Inside China, there are Fujian qingtuo, Guangdong Yangjiang and Zhejiang Qingtian production bases, while outside China, there are Indonesia morowali Industrial Park (IMIP), Indonesia widabe Industrial Park (IWIP) and Pittsburgh A & T stainless LLC, Gujarat Industrial Park in India and China Africa smelting production base in Zimbabwe.
Qingshan holdings started in the 1980s and successively founded Zhejiang Ouhai auto door and window manufacturing company, Zhejiang Qingshan special steel company and other companies. It was registered as the largest group company in June 2003. Since then, Shanghai Dingxin investment group, qingtuo group, Yongqing group, Yongqing technology and other companies have been established successively. At present, five group companies have been formed, under the jurisdiction of more than 300 subsidiaries.
As of September 2018, the registered capital of the company was 2.8 billion yuan. Dingxin investment held 23.70% of the equity of the company and was the largest shareholder of the company. Xiang Guangda and Qingshan management held 22.30% and 11.50% respectively, and Xiang Guangtong and other natural persons held 42.50% in total. The actual controller of the company is Xiang Guangda, a natural person.
Main business of stainless steel industry chain
stainless steel Qingshan holdings started in the stainless steel industry, mainly engaged in nickel chromium mining and stainless steel production. At present, the company has formed an industrial chain running through the upstream, middle and downstream of stainless steel, and has a production capacity of more than 10 million tons of stainless steel crude steel and 300000 tons of nickel equivalent ferronickel. According to the company's disclosure, its nickel equivalent production will reach Shanghai Pudong Development Bank Co.Ltd(600000) tons in 2021, 850000 tons in 2022 and 1.1 million tons in 2023.
New energy business relying on the advantages of rich upstream resources, Castle Peak began to enter the new energy industry in 2017, trying to build a new energy industry chain of "nickel cobalt mineral resources mining hydrometallurgy precursor cathode material battery application". At present, the company has joined hands with Zhejiang Huayou Cobalt Co.Ltd(603799) and Gem Co.Ltd(002340) to develop laterite nickel ore in Indonesia to build a new energy battery nickel resource raw material manufacturing system; Join hands with XCMG group to enter the new energy vehicle industry. In addition, it also signed high nickel matte supply agreements with Zhejiang Huayou Cobalt Co.Ltd(603799) , Cngr Advanced Material Co.Ltd(300919) and agreed that Qingshan industry will supply 60000 tons of high nickel matte to Zhejiang Huayou Cobalt Co.Ltd(603799) and 40000 tons of high nickel matte to Cngr Advanced Material Co.Ltd(300919) within one year from October 2021.
II. Upstream resources: ferronickel business, layout of laterite nickel mine in Indonesia
nickel ore demand is expected to maintain growth at present, in the consumption structure of nickel, stainless steel is the largest consumption field of nickel, accounting for 80%, batteries accounting for 5%, and nickel used in other industries accounting for 15%.
In the field of cathode materials for ternary batteries, high nickel materials have broad market prospects because of their high energy density and low price compared with cobalt. With the rapid growth of new energy vehicle industry, it is expected to significantly promote the demand for nickel resources of high nickel ternary materials.
China project
The ferronickel business of Qingshan holdings in China is mainly distributed through Fujian qingtuo group. Qingtuo group is one of the five major groups under Qingshan industry. It has 26 subsidiaries, including Dingxin industry, qingtuo nickel industry, qingtuo industry shares, Dingxin technology and qingtuo logistics. At present, qingtuo group has formed an annual production capacity of 1.8 million tons of nickel alloy.
(1) qingtuo 500000 ton nickel chromium ferroalloy project
Qingtuo 500000 tons of nickel chromium ferroalloy project is one of qingtuo 400 series projects, with a total investment of 1.25 billion yuan and a land area of 400 mu. The construction was started in May 2016, and the trial production was completed in November 2017. The construction of a 500000 tons of nickel chromium alloy production line can achieve an annual output value of more than 2 billion yuan. The nickel alloy of the project contains 2% nickel and 4% chromium.
(2) Fujian qingtuo production base: Fuan qingtuo series project
Qingtuo group settled in fuanwanwu Peninsula, Ningde City, Fujian Province in 2008. The leading industries in Wanwu industrial and trade concentration area of Fu'an City include: stainless steel industry, port logistics industry, equipment manufacturing industry and energy industry. At present, Fuan qingtuo series projects have formed an annual production capacity of 1.3 million tons of ferronickel. The main production units include Fujian Dingxin industry and Fujian Dingxin nickel industry.
1, Fujian Dingxin Industrial Co., Ltd.
Fujian tuo'an nickel alloy processing Co., Ltd. was built in Fujian tuo'an Peninsula Industrial Co., Ltd. in June 2008, with an annual output of 300000 tons. The project is divided into three phases. The first phase is the construction project of crude ferronickel with an annual output of 100000 tons; Phase II is the construction project with an annual output of 200000 tons of crude ferronickel alloy, and the capacity of phase I is combined to refine into 500000 tons of refined ferronickel alloy; The third phase project is the hot rolling, annealing and pickling project of 800000 tons of stainless steel coil and the Pretreatment Project of high nickel ore.
2, Fujian Dingxin Nickel Industry Co., Ltd.
Fujian Dingxin Nickel Industry Co., Ltd. has an annual output of 1 million tons of crude ferronickel alloy and deep processing supporting projects. The overall production capacity of the project is: 1 million tons of crude ferronickel alloy and 3 million tons of refined ferronickel alloy (1 million tons of refined ferronickel alloy containing 8% nickel, 1 million tons of refined ferronickel alloy containing 4% nickel, 700000 tons of refined ferronickel alloy containing 1% nickel and 300000 tons of refined ferronickel alloy containing 0.5% nickel).
The project is divided into two phases. The first phase is to produce 500000 tons of crude ferronickel alloy and 1 million tons of refined ferronickel alloy; The second phase of the project is to produce 500000 tons of crude ferronickel alloy and 2 million tons of refined ferronickel alloy.
China Indonesia integrated industrial park Qingshan Park (IMIP)
Castle Peak Park is located in morowali County, central Sulawesi province, Indonesia, covering an area of more than 2000 hectares. It is close to the inter provincial highway, about 1km away from the coast, about 60km away from morowali county and about 260km away from Kendari city.
The land owner and manager of the park are Qingshan Park Development Co., Ltd. of Indonesia economic and trade cooperation zone, which is jointly established by Shanghai Dingxin investment (Group) Co., Ltd. and Indonesia Baxing Group Co., Ltd., holding 66.25% and 33.75% respectively.
Qingshan Park in Indonesia is an industrial park with nickel mining and smelting, stainless steel deep processing and steel rolling production as the leading industries, supplemented by thermal power generation. The goal of the park is to build an industrial park for the comprehensive development and utilization of nickel, chromium and iron ore resources with the integration of "nickel iron + stainless steel", and gradually form a complete industrial chain from nickel ore mining, nickel iron smelting and stainless steel smelting in the upstream raw material of stainless steel to bar wire and sector processing, steel pipe manufacturing, fine line processing, wharf transportation and international trade in the downstream.
As of October 2020, 16 enterprises have settled in Qingshan Industrial Park in Indonesia.
(1) Sulawesi Mining Investment Co., Ltd. SMI
Sulawesi Mining Investment Co., Ltd. was established in October 2009 as a joint venture between Shanghai Dingxin investment (Group) Co., Ltd. and Indonesia Baxing Investment Co., Ltd. its main business is to develop nearly 47000 hectares of laterite nickel ore in morowali County, Sulawesi island, Indonesia.
At the same time of mining development, the company has also prepared the construction of ferronickel smelter project, that is, SMI ferronickel smelting and supporting 2x65mw thermal power generation project with an annual output of 300000 tons containing 10% - 11% nickel ("SMI project"), which is the first project in Qingshan Park, Indonesia.
The SMI project adopts the rotary kiln submerged arc furnace process (rkef) and has four rkef production lines. Laterite nickel ore with nickel content of 1.8-2.0% in Indonesia is selected to produce ferronickel with nickel content of 10% - 11%. The production capacity can reach 300000 tons per year and the nickel metal content can reach 30000 tons. The project started construction in July 2013, completed trial production in January 2015 and officially put into operation in May 2015.
(2) Indonesia Guangqing Nickel Industry Co., Ltd. GCNs
Indonesia Guangqing Nickel Industry Co., Ltd. is the second entry project in Qingshan Park of China Indonesia comprehensive industrial park. It was jointly established by Guangdong Guangxin Holding Group Co., Ltd., Guangdong Jirui Technology Group Co., Ltd., Qingshan Park Development Co., Ltd. of Indonesia economic and trade cooperation zone and other companies in August 2014.
The company has invested in the construction of Shanghai Pudong Development Bank Co.Ltd(600000) tons of ferronickel, 1 million tons of stainless steel, 2 million tons of stainless steel hot rolling and supporting 2x150mw thermal power generation projects in morowali County, central Sulawesi province, Indonesia, with a total investment of 1.035 billion US dollars.
For the ferronickel smelting project with an annual output of Shanghai Pudong Development Bank Co.Ltd(600000) tons and its supporting 2x150mw thermal power generation project, the company has built eight rkef ferronickel smelting production lines, with a land area of 86 hectares, a total investment of more than US $1 billion and an annual output of Shanghai Pudong Development Bank Co.Ltd(600000) tons of ferronickel alloy with an annual output of Shanghai Pudong Development Bank Co.Ltd(600000) tons of nickel equivalent.
The project was started on May 2, 2014, cast iron and trial production on December 5, 2015, ferronickel project was put into operation in April 2016, and ferronickel refining project was put into trial production in June 2016, which has met the expected design requirements.
(3) Indonesia Castle Peak Stainless Steel Co., Ltd. ITSS
Indonesia Qingshan Stainless Steel Co., Ltd. was jointly established by Qingshan Holding Group Co., Ltd., Ruipu Technology Group Co., Ltd., Qingshan Park Development Co., Ltd. of Indonesia economic and trade cooperation zone and other companies in December 2014.
The company has invested in the construction of an annual output of Shanghai Pudong Development Bank Co.Ltd(600000) tons of ferronickel, 1 million tons of stainless steel smelter and 2 factories in morowali County, central Sulawesi province, Indonesia × 350MW coal-fired power plant project.
The company's ferronickel project with an annual output of Shanghai Pudong Development Bank Co.Ltd(600000) tons has eight rkef ferronickel smelting production lines, with a nickel metal volume of 60000 tons, which is divided into two phases. Phase I 300000 ton ferronickel project has been put into trial production in December 2016. Another 300000 ton project was completed and put into operation in April 2017.
(4) Indonesia Ruipu nickel chromium alloy Co., Ltd. irnc
Indonesia Ruipu nickel chromium alloy Co., Ltd. was jointly established in Indonesia by Qingshan Holding Group Co., Ltd., Ruipu Technology Group Co., Ltd. and Qingshan Park Development Co., Ltd. of Indonesia economic and trade cooperation zone in February 2016. It mainly constructs Shanghai Pudong Development Bank Co.Ltd(600000) tons of ferrochromium (supporting heat recovery coking) and 700000 tons of stainless steel cold rolling project (irnc project).
The irnc project covers an area of 40 hectares. It adopts the optimized smelting process of shaft furnace / rotary kiln oxidation pellet closed ferrochrome electric furnace, and uses South African chrome ore to smelt ferrochrome. The production capacity can reach Shanghai Pudong Development Bank Co.Ltd(600000) tons of ferrochrome and 60000 tons of nickel metal per year. The project also adopts the clean heat recovery horizontal coking process, with Shanghai Pudong Development Bank Co.Ltd(600000) tons of heat recovery coking to meet the demand of smelting projects in Qingshan park for high-quality carbonaceous reductant.
The total investment of the project is 460 million US dollars. The construction was started in May 2016 and the trial production was completed in the second quarter of 2018. However, according to Roskill, the current operating capacity of the Qingshan ferrochrome plant is only 300000 tons / year, and the output in 2020 is only 200000 tons.
(5) Indonesia Qingshan iron and Steel Co., Ltd. TSI
In December 2016, Indonesia Qingshan iron and Steel Co., Ltd. was jointly established in Indonesia by Shanghai Dingxin investment (Group) Co., Ltd. (holding 80%) and Indonesia Baxing Mining Co., Ltd. to invest in the construction of a 500000 ton annual ferronickel project (TSI project).
TSI project adopts mature blast furnace smelting process, which has the characteristics of low cost, low energy consumption, high output, mature process and low technical risk. The ferronickel products produced by the project will be directly supplied to the existing stainless steel smelting project in Qingshan park by means of hot charging and hot delivery, so as to produce 200 series stainless steel, so as to form a more complete industrial chain.
TSI project, with an annual output of 500000 tons of ferronickel and a total investment of about US $119 million, was started in December 2016 and put into operation in the second quarter of 2018.
(6) Indonesia HENGJIA nickel industry Hni
In January 2018, Indonesia HENGJIA nickel industry was jointly established by Nickel Mines Limited (holding 80%) and Shanghai Dingxin (holding 20%).
Indonesia HENGJIA nickel industry has built a 150000 ton ferronickel project, has the legal mining right of 6249 hectares of nickel mining area in morowali County, central Sulawesi province, Indonesia, and has built two 42000 KVA production lines. The first production line is the cooperative construction in Qingshan Park, Indonesia, signed by the company (60%) and Shanghai Dingxin (20%) and Shanghai Wanlu (20%) in 2017, with a total investment of US $200 million. The second production line is an investment project in the Mou cooperative construction smelter signed by NML and Shanghai Dingxin again in June 2018.
The company's ferronickel project with an annual output of 150000 tons was started on February 10, 2018, and officially put into operation and reached production in March 2019.
(7) Indonesia Renjia nickel RNI
Indonesia Renjia nickel was established in August 2018 by Nickel Mines Limited (holding 80%) and Shanghai Dingxin (holding 20%). The company has a ferronickel project with an annual output of 150000 tons, which was officially put into operation and reached production in June 2019.
(8) Indonesia Huaxin nickel company wnii
Indonesia Huaxin Nickel Industry Co., Ltd. is jointly established by Huaxin Lihua (holding 50%), Indonesia newhono investment private Co., Ltd. and perlux investment private Co., Ltd. and has built a nickel pig iron project with an annual output of 3 China Union Holdings Ltd(000036) 000 tons of nickel in Qingshan park.
The total investment of the project is US $500 million, of which the construction cost is US $350 million and the annual production capacity is 3 China Union Holdings Ltd(000036) 000 tons of nickel. In July 2021, the 40 electric furnace located in Qingshan Park in Indonesia was successfully powered and put into operation, which means that all four electric furnaces of Huaxin nickel in Indonesia have been completed and put into operation smoothly.
widabe Industrial Park (IWIP)
Weidabe Industrial Park is located in Weida County, central hamahela region, North Maluku Province, Indonesia. It is the second industrial park built by Qingshan group in Indonesia after morowali Industrial Park in Indonesia. Phase I of the industrial park will be put into operation in the first quarter of 2020.
Widabe Industrial Park focuses on building an industrial cluster dominated by ferronickel industrial chain. It is the first comprehensive industrial zone in Indonesia aimed at using minerals to produce and process raw materials for electric vehicle batteries.
(1) widabe nickel WBN
Weidabei Nickel Industry Co., Ltd. is jointly established by Qingshan group and Eramet, and Qingshan group owns 57% equity. Qingshan group takes over the construction and operation of processing infrastructure, and Eramet is responsible for the mining business. The joint venture has built a nickel ore refining and processing plant, which adopts pyrometallurgy / rkef technology, with an annual capacity of 3 million tons of ferronickel.
The nickel mine life of weidabei project is expected to be up to 50 years and will be put into operation in October 2019. Weidabei nickel industry phase I project was fully put into operation in May 2020, and produced 3.4 million wet tons of nickel ore in 2020, including 1.9 million wet tons of equity output of Qingshan group. According to the production guidelines, the project plans to produce more than 6 million wet tons of nickel ore in 2021.
(2) Yashi Indonesia Investment Co., Ltd.
Yashi Indonesia Investment Co., Ltd., established in 2018, is a joint venture between Zhenshi Holding Group Co., Ltd., Shanghai Dingxin investment (Group) Co., Ltd. and Zhejiang Huajun Investment Co., Ltd. The main construction projects are ferronickel projects with an annual output of 300000 tons.
Yashi phase I project consists of four ferronickel smelting production lines, which can achieve an annual output of 35000 tons of nickel metal equivalent after being fully put into operation. The project was officially started on March 15, 2019. In October 2020, Yashi Indonesia's annual output of 300000 tons of ferronickel project was put into operation.
Yashi phase II project of Zhenshi group mainly completed the construction of nickel metal production line with an annual output of 35000 tons and supporting construction of 1x250mw coal-fired power plant. At present, the project has been filed with the government department.
(3) Indonesia Youshan nickel Co., Ltd.
Indonesia Youshan Nickel Industry Co., Ltd. is a joint venture established by Huayou Group, Qingshan group and Chengtun Mining Group Co.Ltd(600711) Co., Ltd. Qingshan group owns 17.85% equity of Youshan nickel industry through its subsidiary Hengtong Asia Technology Co., Ltd. established in Hong Kong.
Youshan nickel has built a high nickel matte project with an annual output of 34000 tons of nickel metal in weidabei industrial zone. The project is adjacent to provincial roads and nickel ore outward transportation terminals in the south, with convenient transportation. The project is a pyrometallurgical system, with four drying rotary kilns, four roasting rotary kilns and four submerged arc furnaces. It is estimated that the annual output of high nickel matte is 435900 tons and the nickel content is 34000 tons. According to the feasibility study of the project, the construction period of the project is two years, and it will be put into operation in September 2020. After being put into operation, it will reach 70% of the production capacity in the first year, reach the design capacity in the second year, and the production period is 16 years.
(4) Huake nickel Indonesia Co., Ltd.
Huake nickel Indonesia Co., Ltd. is a joint venture between Qingshan group and Zhejiang Huayou Cobalt Co.Ltd(603799) with Qingshan group holding 30%. Huake nickel has built a high nickel matte project with an annual nickel content of 45000 tons.
The construction of high matte nickel project includes 4 drying kilns, 4 roasting rotary kilns, 4 submerged arc furnaces, 4 P-S converters and supporting facilities, and the supporting construction of 250MW coal-fired power plant. March 2021, widabe 6, Indonesia × The hoisting of the first column of Huake nickel 6 furnace in the 250MW thermal power generation project marked that the boiler steel structure of Huake nickel power plant entered the installation stage.
III. downstream traditional business: stainless steel production
Qingshan holding's stainless steel market share exceeds 1 / 3 According to wind statistics, the global output of stainless steel crude steel declined in 2020, but remained on the rise as a whole. In 2020, the total output of stainless steel crude steel in China was 30.139 million tons, with a year-on-year increase of 2.51%, accounting for nearly 60% of the world. Among them, the output of stainless steel crude steel of Qingshan holdings reached 10.8 million tons, accounting for about 35.8% of the supply in the Chinese market.
China
According to the company's official website, Qingshan holdings established the world's first rkef-aod stainless steel integrated production line in March 2008, and then began to layout stainless steel production bases in China. At present, Qingshan Holdings has three production bases in Zhejiang, Fujian and Guangdong in China, mainly producing stainless steel crude steel, hot rolling and cold rolling.
(1) Zhejiang production base
Qingshan industrial Zhejiang production base is located in Qingtian County, Lishui City, Zhejiang Province. It is the stainless steel long material production base of Qingshan industrial. The main production unit of the base is Ruipu technology group, which has an annual steel-making capacity of 500000 tons of stainless steel and two advanced hot continuous rolling production lines of rods and wires, with an annual rolling capacity of 800000 tons.
(2) Fujian qingtuo production base
In terms of stainless steel production, qingtuo group has formed an annual production capacity of 4.7 million tons of stainless steel, 800000 tons of stainless steel hot rolling and 300000 tons of cold rolling.
Among them, the project with an annual output of 300000 tons of stainless steel cold rolled sheet is built by Fujian qingtuoshangke Stainless Steel Co., Ltd. Fujian qingtuo Shangke Stainless Steel Co., Ltd. was founded in August 2016 by qingtuo group and Shanghai Krupp Stainless Steel Co., Ltd. The project started construction in September 2016, and the first production line was completed and put into trial production in September 2017, and fully completed and reached production capacity by the end of July 2018.
(3) Guangdong production base
Qingshan industrial Guangdong production base is located in Qingyuan City and Yangjiang City, Guangdong Province. It is the main narrow-band steel production base of Qingshan industrial and the large-scale stainless steel steelmaking base using ferronickel / stainless steel integrated production technology. The main production units are Qingyuan base and Yangjiang base.
China Indonesia integrated industrial park Qingshan Park (IMIP)
(1) Indonesia Guangqing Nickel Industry Co., Ltd. GCNs
The GCNs project of Indonesia Guangqing Nickel Industry Co., Ltd. adopts the "rkef + AOD integrated process", that is, the rkef technology is used to produce ferronickel hot metal, and the ferronickel hot metal is hot charged and sent directly to the AOD furnace to smelt stainless steel, so as to realize the continuous integrated production of stainless steel.
GCNs project includes two stainless steel production projects, namely stainless steel continuous casting billet and stainless steel hot rolling.
Among them, the project with an annual output of 1 million tons of stainless steel continuous casting billet has a total investment of 120 million US dollars and a land area of 9 hectares. The construction was started in March 2015, completed and put into trial operation in June 2016, and officially put into operation on July 6, 2017.
Another project is 1780 hot rolling project. The project covers an area of about 10 hectares, with an annual output of 3 million tons of hot-rolled black steel coil. The construction was started on December 18, 2015 and officially put into operation on July 9, 2017.
(2) Indonesia Castle Peak Stainless Steel Co., Ltd. ITSS
Besides the ferronickel project with an annual output of Shanghai Pudong Development Bank Co.Ltd(600000) tons, Indonesia Qingshan Stainless Steel Co., Ltd. also has a stainless steel project with an annual output of 1 million tons. The project adopts rkef + AOD integrated process, which was started in July 2015 and put into operation in June 2016.
(3) Indonesia Ruipu nickel chromium alloy Co., Ltd. irnc
Combined with the long-term development strategy of Qingshan Park and the trend of upstream and downstream integration, Indonesia Ruipu nickel chromium alloy Co., Ltd. has built a 700000 ton stainless steel cold rolling project. The ferrochrome products of the project are sent to other projects in Qingshan park to directly smelt stainless steel, which greatly reduces the production cost.
IV. development focus: new energy layout
New energy vehicles are the main demand of nickel downstream in the future. According to wind statistics, the production and sales volume of Shanxi Guoxin Energy Corporation Limited(600617) cars in China is basically the same every month. Since March 2021, the production and sales volume has exceeded the scale of 200000 vehicles per month and maintained a continuous growth trend. In view of the rapid growth of the new energy vehicle industry, relying on the advantages of rich upstream resources, Qingshan group began to layout the new energy industry in 2017 and tried to build a whole new energy industry chain from two aspects: upstream nickel mining and downstream new energy product manufacturing.
upstream
(1) Sino Vietnam nickel cobalt (Indonesia) Co., Ltd. hync
Huayue nickel cobalt (Indonesia) Co., Ltd., established in December 2018, is a joint venture in Indonesia by Zhejiang Huayou Cobalt Co.Ltd(603799) , QingChuang international, woyuan holdings and long sincer. The joint venture has a nickel cobalt hydroxide project with an annual output of 60000 tons of nickel metal.
Huayue nickel cobalt (Indonesia) wet process project is located in Qingshan Industrial Park, morowali County, Sulawesi island, Indonesia. The international most advanced third-generation high-pressure acid leaching process is used to extract nickel and cobalt hydroxide from laterite ore. The project was started in March 2020 and constructed by overseas general contracting of China National Chemical Engineering Co.Ltd(601117) project, which is divided into two stages. The first stage is to build a laterite nickel ore hydrometallurgy project with an annual output of 30000 tons of nickel metal; The second stage is the laterite nickel ore hydrometallurgy project with an annual output of 60000 tons of nickel metal. The total planned investment of the project is 1.28 billion US dollars. The project is expected to be completed and put into trial production by the end of 2021.
(2) qingmeibang new energy materials Co., Ltd. QMB
Qingmeibang new energy materials Co., Ltd., established in January 2019, is a joint venture of Gem Co.Ltd(002340) , Ningbo Bangpu, IMIP, Osaka and Xingye, of which IMIP holds 10%. Qingmeibang has built a 50000 ton battery grade nickel chemical (nickel sulfate crystal) project of Indonesia laterite nickel mine in Qingshan park.
Qingmeibang project adopts hydrometallurgical smelting technology for laterite nickel ore, and the core process is high-pressure acid leaching (hpal). In May 2021, three 560m3 high-pressure reactors (the core equipment of high-pressure acid leaching) were delivered. The project is planned to be completed in 2021 and put into operation in early 2022. After the completion of the qingmeibang project of nickel resources in Indonesia, the "ternary cathode material project of power battery" will be configured first to meet the needs of nickel and cobalt raw materials of the nickel resources project.
\u3000\u3000 3 Cngr Advanced Material Co.Ltd(300919)
Cngr Advanced Material Co.Ltd(300919) and Qingshan holdings completed the signing of relevant strategic cooperation agreement on November 26, 2020, introducing Shanghai JINGMAO Investment Co., Ltd., the holding subsidiary of Qingshan holdings, to participate in the company's IPO strategic placement. Qingshan holdings chose Cngr Advanced Material Co.Ltd(300919) as the partner of nickel resource development projects, sales and production expansion plans in Indonesia's industrial park. These projects are expected to supply Cngr Advanced Material Co.Ltd(300919) nickel equivalent of 3 Ping An Bank Co.Ltd(000001) million tons from 2021 to 2030, accounting for about 10% - 20% of the average annual nickel consumption of Zhongwei company in the future, and assist Cngr Advanced Material Co.Ltd(300919) to further improve the industrial chain.
In March 2021, Qingshan industry signed a high nickel matte supply agreement with Zhejiang Huayou Cobalt Co.Ltd(603799) , Cngr Advanced Material Co.Ltd(300919) and . The three parties jointly agreed that Qingshan industry will supply 60000 tons of high nickel matte to Zhejiang Huayou Cobalt Co.Ltd(603799) and 40000 tons of high nickel matte to Cngr Advanced Material Co.Ltd(300919) within one year from October 2021.
Downstream
(1) new energy production project
Together with Gem Co.Ltd(002340) , Qingshan group has built a ternary power battery material project. Fu'an Qingmei Energy Materials Co., Ltd. is established by Yongqing technology and Gem Co.Ltd(002340) joint venture, of which Yongqing technology owns 40% equity. The joint venture has a Fuan Qingmei ternary power battery material project.
The initial goal of the project is to annually produce 50000 tons of ternary precursor materials for power batteries and 20000 tons of ternary cathode materials for power batteries. In the future, adjust the product structure and expand the production scale according to the needs of the global market. According to the company's announcement, 20000 tons of production capacity has been put into operation in July 2021, and the subsequent 30000 tons will be put into operation within the year.
Build XCMG Qingshan new energy industry base and enter the new energy vehicle industry. In December 2020, the joint construction project of Xushan group and Qinggong group was signed. The total investment of the project is about 5.5 billion yuan. The base is mainly engaged in the R & D, production, sales and service of new energy vehicle, power battery (battery cell, battery pack), motor electronic control system and other parts.
(2) Ruipu Energy Co., Ltd.
Founded in 2017, Ruipu Energy Co., Ltd. is the first enterprise of Qingshan holdings to invest in the new energy field in combination with its rich mineral resources, and it is also the only lithium battery company it owns.
Ruipu energy is mainly based on square aluminum shell ternary lithium batteries and iron lithium batteries with standard sizes of VDA and MEB. The product applications cover the fields of power and energy storage. The cooperative enterprises include SAIC GM Wuling, Sany, Dongfeng, etc.
At present, Ruipu energy has built two bases: Wenzhou manufacturing base and Shanghai R & D center. Wenzhou manufacturing base is located in Binhai Park, Longwan District, Wenzhou City. Four mass production lines and one pilot test line have been built, with a total annual production capacity of 6gwh. Wenzhou phase II 20gwh plant will be put into operation in the middle of 2021, and phase III 20gwh is expected to be put into operation in 2022, with a total annual capacity of 46gwh.
On April 23, 2021, Ruipu energy plans to invest more than 30 billion yuan to build Ruipu new energy industry base project in Wenzhou Beiwan district. The project will be invested in 2026 and put into full operation in 2027. After all, the annual production capacity will reach 100GWh.
In order to further expand the production capacity, on March 31, 2021, Qingshan holdings invested 10.3 billion to build a power and energy storage lithium-ion battery and system manufacturing base in Nanhai District, Foshan City. After completion, the annual production capacity can reach 30gwh, becoming the largest local lithium-ion battery production base.
The current capacity planning of Ruipu energy has reached 176gwh, and its goal is to reach 200gwh by 2025.
