[NPI Price] China NPI Price to Meet Resistance to Move Higher, SMM Says

Jun 11, 2015 11:32

The price of medium and high-grade is expected to face resistance to rise on weak demand, Shanghai Metals Market foresees.

SHANGHAI, Jun. 11 (SMM) – The price of medium and high-grade is expected to face resistance to rise on weak demand, Shanghai Metals Market foresees.

Prices of medium and high-grade NPI advanced by 5 yuan per mtu on Jun. 9 after LME nickel rose above $13,000 per tonne, according to SMM data.

“The off-demand season of stainless steel reduces demand for NPI, giving no support to more price gains,” SMM nickel group says.

The low-grade NPI market is now in surplus, with low trading, SMM adds.

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[NPI Price] China NPI Price to Meet Resistance to Move Higher, SMM Says

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