SHANGHAI, Apr 3 (SMM) - The weekly average discount of high-grade NPI stood at 722.2 yuan/mtu against refined nickel last week, which widened by 120 yuan/mtu from a week earlier. In terms of refined nickel, nickel futures prices rebounded in the last few trading days. While last Friday, the prices dropped on the new LME regulations. The traded price of NPI crashed last week. Stainless steel prices dropped sharply, thus the stainless steel mills offered lower and lower purchase prices of NPI. In addition, NPI traders also dumped their goods at lows to ease the inventory pressure. Almost all Chinese NPI plants suffered serious losses, which will limit the downward space of NPI prices. The premiums of high-grade NPI against pure nickel will continue to shrink.



