SHANGHAI, Jul. 28 (SMM) – Chinese NPI producers are now reluctant to buy medium and high-grade ore, Shanghai Metals Market survey finds.
“Bearish outlook has depressed their interest in purchasing ore,” SMM nickel analyst explains.
Some domestic NPI producers plan to halt production after using up current stocks, according to SMM survey.
On Jul. 27, prices were 465-530 yuan per wmt for Ni 1.8-1.9% ore and 205-315 yuan per wmt for Ni 1.4-1.6% ore.
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