Stainless Steel Represents 70% of Global Nickel Consumption-copy-67174dd7621c7

Stainless Steel Represents 70% of Global Nickel Consumption

The stainless steel industry continues to account for 70% of primary nickel consumption. As consumers of electric vehicles and other clean energy technologies increasingly prioritize environmental considerations, many nickel producers targeting these markets are striving to enhance their carbon footprints.

In light of Tsingshan’s recent announcement regarding the conversion of traditional stainless steel feedstock NPI to nickel matte for nickel sulfate production used in lithium-ion batteries, producers of Class II nickel (such as FeNi and NPI) are now being evaluated based on their emissions. This shift in focus is extending to the stainless steel sector, coinciding with the growing discourse around 'green steel' and the decarbonization of the steel industry.

Analyzing CO2 emissions has become a crucial method for assessing the true environmental impact of specific supply chains or production methods. When calculating CO2 emissions from NPI and FeNi production, several key factors must be taken into account: (i) Emissions resulting from the transportation of laterite ore feedstocks; (ii) Power and electricity consumption for on-site processing and refining operations; and (iii) Fuel and reagents used during processing and refining activities.