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SHANGHAI, Aug. 30 (SMM) -- According to SMM sources, a large stainless steel mill in east China bids NPI (10-15%) for September delivery at RMB 1,620/mtu (delivery to factory and including tax), equaling to RMB 162,000/mt for refined nickel price and very close to SMM #1 refined spot nickel price.
As stainless steel mill’s biding price for NPI was lower than spot NPI prices, some market players showed skepticism towards whether or not high grade NPI can be purchased at this price level.
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