China's Tsingshan Holding Group has signed a one-year contract to supply nickel matte to Huayou Cobalt Co and CNGR Advanced Material Co, the stainless steel producer announced via its WeChat account on Wednesday March 3.
Under the agreement, Tsingshan, which is China's largest producer of stainless steel, will supply 60,000 tonnes of nickel matte to Huayou and 40,000 tonnes to CNGR within a year, starting from October 2021.Nickel matte is used to make batteries for electric vehicles (EVs) and the positive outlook for the EV market has encouraged Chinese companies to step up efforts to secure supply of raw...