SHANGHAI, Apr. 15 (SMM) – NPI producers in Linyi City, Shandong Province have no plan to restart production due to sluggish prices, Shanghai Metals Market’s survey shows.
No big deals have been heard recently in high-grade NPI market, mostly between 1,000-2,000 tonnes, with traded prices at 955-965 yuan per mtu, below SMM’s average price, according to SMM survey.
The drop in nickel ore prices also gave no support to production at NPI producers, with national NPI utilization rate near 33%, SMM expects.
In addition, SMM expects the price of low-grade NPI to continue falling as stainless steel mills push for lower prices from poor demand.