China NPI Price to Drop on Market Pessimism, SMM Says

Published: Aug 19, 2015 17:46

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The price of medium and high-grade NPI in China’s domestic market is expected to continue falling for the foreseeable future, Shanghai Metals Market predicts.

SHANGHAI, Aug. 19 (SMM) – The price of medium and high-grade NPI in China’s domestic market is expected to continue falling for the foreseeable future, Shanghai Metals Market predicts.

“Market pessimism is strong now, and little purchases by domestic stainless steel mills give no support to market price,” SMM nickel analyst says.

According to SMM survey, some large stainless steel mills have postponed NPI purchases to next month.

On Aug. 19, prices were 820-835 yuan per mtu for Ni 10-15% NPI, and 825-835 yuan per mtu for Ni 4-6% NPI.

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