SHANGHAI, Mar. 11 (SMM) -- According to SMM statistics, China's NPI output in January 2010 (physical volume) was 291 kt in January 2010, equaling to 13.6 kt of metal volume.
According to the statistics, China's output of NPI physical volume and metal volume in January both declined slightly MoM. Output of physical volume declined greater than that of metal volume, with physical volume down 11.3% MoM and metal volume down 0.3% MoM. The MoM output decline of physical volume is mainly attributed to the fact that many (1.7-1.8%) NPI producers began to halt production for unit maintenance given the reduced market demand. However, slower MoM output decline of metal volume results from high operating rates at NPI producers with electric arc furnace, which helped offset impact from low operating rates at producers with blast furnace.
However, China's output of NPI physical volume and metal volume in January grew significantly YoY, with output of NPI physical volume up 68% and output of metal volume up 184%. The significant increases of YoY output are attributed to the change of output proportion from different NPI specifications. It is reported that NPI market was dominated by high grade NPI in January 2010, while the NPI market was dominated by low grade NPI in January 2009.
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