Steel Mills February Bidding Prices below Market Expectation-Shanghai Metals Market

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Steel Mills February Bidding Prices below Market Expectation

SMM Insight 05:22:25PM Jan 28, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) -- Mainstream traded prices for high-grade NPI (Ni 10-15%) were RMB 1,140-1,160/mtu. Prices were RMB 1,165-1,175/mtu for medium-grade NPI (Ni 6-8%) and were RMB 1,170-1,180/mtu for medium-grade NPI (Ni 4-6%). Prices for low-grade NPI (Ni 1.6%-1.7%) were RMB 2,900-2,950/mt.

It was reported that February bidding prices for NPI were between RMB 1,160-1,180/mtu, below market expectation. Most NPI producers reluctant to move goods since they were not under severe cash flow pressure and adopted a wait-and-see attitude.

With regard to nickel ore market, as prices for qualified nickel ore were still high, while prices for unqualified nickel ore slightly fell. NPI producers already replenished stocks of nickel ore in preparation of production after holiday, so they were not eager to purchase nickel ore.
 

Key Words:  China NPI price    
Relative News

Price

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SMM #1 Nickel
Oct.22
128750.0
150.0
(0.12%)
#1 JinChuan Nickel
Oct.22
128900.0
150.0
(0.12%)
#1 Import Nickel
Oct.22
128600.0
50.0
(0.04%)
JinChuan B&C
Oct.22
7850.0
-2700.0
(-25.59%)
Russian nickel premium
Oct.22
7550.0
-2750.0
(-26.70%)

Steel Mills February Bidding Prices below Market Expectation

SMM Insight 05:22:25PM Jan 28, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) -- Mainstream traded prices for high-grade NPI (Ni 10-15%) were RMB 1,140-1,160/mtu. Prices were RMB 1,165-1,175/mtu for medium-grade NPI (Ni 6-8%) and were RMB 1,170-1,180/mtu for medium-grade NPI (Ni 4-6%). Prices for low-grade NPI (Ni 1.6%-1.7%) were RMB 2,900-2,950/mt.

It was reported that February bidding prices for NPI were between RMB 1,160-1,180/mtu, below market expectation. Most NPI producers reluctant to move goods since they were not under severe cash flow pressure and adopted a wait-and-see attitude.

With regard to nickel ore market, as prices for qualified nickel ore were still high, while prices for unqualified nickel ore slightly fell. NPI producers already replenished stocks of nickel ore in preparation of production after holiday, so they were not eager to purchase nickel ore.
 

Key Words:  China NPI price