Nickel Weekly News: Jinchuan Group Cut Prices, NPI Prices to Fall Below RMB 1,000/mtu in May

SHANGHAI, Apr. 16 (SMM) -

Nickel Ore FOB Prices to Keep Falling, NPI Prices in May to Drop Below RMB 1,000/mtu
Recently, major domestic stainless steel mills further lowered the NPI procurement price given ample supply, despite low sales interest by NPI producers.

Zhangjiagang Pohang had purchased a small volume of goods at RMB 1,040/mtu (the price to factory), while Oriental Special Steel and Sichuan Southwest Stainless Steel quoted prices at RMB 1,030/mtu, and RMB 1,050/mtu, respectively. 

Jinchuan Group Cut Nickel Prices Down to RMB 113,500/mt 
On April 9, Jinchuan Group cut ex-works prices for refined nickel to RMB 113,500/mt (large panel), and RMB 114,700/mt (small in barrel), down RMB 1500/mt.  
 
Inco to Invest USD 216 Million in 2013
Indonesia nickel ore producer PT Inco plans to invest USD 216 million in 2013. Vale Chairman Nico said in the company’s 2012 annual report to invest USD 216 million to develop the business in 2013.