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.