NPI Traded Prices Low ahead of Holiday (2013-1-15)

SHANGHAI, Jan. 15 (SMM) -- Mainstream traded prices for NPI (Ni 10-15%) were between RMB 1,150-1,170/mtu, were between RMB 1,170-1,180/mtu for NPI (Ni 6-8%), between RMB 1,180-1,190/mtu for NPI (Ni 4-6%), and between RMB 3,000-2,950/mt for NPI (Ni 1.6-1.7%).

Based on SMM survey result, NPI producers singing long-term supply contracts with stainless steel mills in Shandong and Fujian province already sold out goods. Some producers without long-term supply contracts in Shandong province considered moving goods, but sales prices were almost the same as production costs. It was reported that Lianzhong Stainless steel purchased medium-grade NPI (Ni 4-6%) at RMB 1,200/mtu and purchased medium-grade NPI (Ni 7-9%) at RMB 1,160/mtu.