SHANGHAI Nov. 4 (CBI China) -- Offer of NPI 1.6-1.7% is RMB 3,000/mt in Shandong Province. Inventory decreased as most NPI producers stopped production, in Linyi City it was 9,000mt of inventory. NPI producers adhered to above offer, it is difficult for them to accept offer lower than RMB 3,000 /mt.
According to one manufacturer, they had sold part of inventory at RMB 2,800/mt thus enjoying less pressure on inventory for the time being, and not eager to sell the remaining goods.
Most of the purchasers said they will accept offer at RMB 2,500/mt but not have a strong will to purchase, so even if the producer will lower the price, transaction will still remain muted.
At present, prices of stainless steel in 200-series are stable, but stainless steel manufacturers have not yet started massive production. Raw materials inventory at 200-series stainless steel manufacturers is still relatively ample, and many of them expressed to make procurement plan in accordance with production.
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