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China NPI Market Daily Review (2012-10-16)
Oct 16,2012 14:15CST
smm insight
Source:SMM
Mainstream traded prices of NPI (Ni 10-15%) were between RMB 1,180-1,120/mtu, were between RMB 1,200-1,220/mtu for NPI (Ni 6-8%).

SHANGHAI, Oct.16 (SMM) -- Mainstream traded prices of NPI (Ni 10-15%) were between RMB 1,180-1,120/mtu, were between RMB 1,200-1,220/mtu for NPI (Ni 6-8%), between RMB 1,220-1,240/mtu for NPI (Ni 4-6%), and between RMB 2,850-2,950/mt for NPI (Ni 1.6-1.7%).

LME nickel prices fell after holiday and demand from stainless steel mills did not improve, which resulted in cautious transactions of NPI. Although LME nickel prices were on downward track, offers of nickel ore were still firm, which resulted in high production costs of NPI. In this context, NPI producers also kept offers firm, resulting in stagnant transactions in the market.
 

China NPI price

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