At the nickel smelting plant of a subsidiary of Jiangsu Delong Nickel Industry on the Indonesian island of Sulawesi, workers fought over the weekend, killing two people, authorities said Monday.
According to Central Sulawesi Police spokesman Didik Supranoto, two workers, one Chinese and one Indonesian, were killed in a dispute that followed a union-organized protest at the PT Gunbuster Nickel Industry (GNI) smelter.
The protesters reportedly wanted better wages and working conditions, according to local media. Didik reported that 71 people had been detained and that approximately 100 rooms in the workers’ dormitories had been damaged, in addition to several corporate vehicles having been set on fire. GNI’s operations have been suspended, Didik added. He did not provide a restart date. According to GNI, the companies and the police are investigating the event.
The company said that it “immediately began a deep and thorough investigation of the situations that have negatively affected all parties, both material and non-material losses, and even deaths” in conjunction with law enforcement officials.
The mineral-rich province of Sulawesi, where nickel, a key component of batteries used in electric vehicles, has recently experienced an investment boom, has occasionally seen violent protests.
Why does the cost of nickel affect stainless steel prices?
The electric vehicle market is expanding rapidly and the use of nickel will increase. Currently, 1.5% of all vehicle sales are electric vehicles. Don’t forget that stainless steel is also the largest market for nickel. Demand increases to $20 billion annually. About 60% of cars sold worldwide by 2040 could be electric vehicles. It is obvious that there will be strong demand for nickel and copper over the next few decades.
There are many different varieties of stainless steel. A considerable fraction of stainless steel, such as 200 series stainless steel, does not contain nickel. The 300 series stainless steel (marked 304) that we most often use in engineering practice is distinguished primarily by having greater than 8% nickel content.
The plasticity, toughness, weldability and, in particular, the corrosion resistance of stainless steel are significantly improved by the addition of nickel. This metal has a very high value. Coins are made from it, and at the same time, it directly affects the performance of stainless steel. The value of the other stainless steel components is modest in comparison. It can be said that the nickel content determines how much nickel-containing stainless steel costs. As a result, the price of it and that of stainless steel should be directly correlated.
