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China NPI Offers Firm on Low Inventories
Oct 24,2012 16:11CST
smm insight
Mainstream traded prices of high-grade NPI (Ni 10-15%) were between RMB 1,180-1,210/mtu.

SHANGHAI, Oct. 24 (SMM) – Mainstream traded prices of high-grade NPI (Ni 10-15%) were between RMB 1,180-1,210/mtu, RMB 1,200-1,220/mt for medium-grade NPI (Ni 6-8%), RMB 1,220-1,240/mtu for NPI (Ni 4-6%) and RMB 2,880-2,930/mtu for low-grade NPI (Ni 1.6-1.7%).

Although LME nickel prices fell for four consecutive days, offers from NPI producers were relatively firm, with mainstream offers for high-grade NPI between RMB 1,210-1,220/mtu.

Based on result of SMM survey, most NPI producers temporarily reported no inventories, but a small portion of NPI producers that had some inventories were reluctant to move goods. Meanwhile, Taiyuan I/S and Baosteel offered bidding prices at RMB 1,200/mtu for high-grade NPI for delivery in November, which strengthen confidence of NPI producers.

China NPI price

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