SHANGHAI, Oct. 10 (SMM) – The price of medium and high-grade NPI is expected to set for rise after returning from China’s week-long holiday, Shanghai Metals Market foresees.
After the holiday, Tsingshan Group’s stainless steel mill raised its procurement price of high-grade NPI to 780 yuan per mtu (the price to factor, including tax), up 10 yuan from the pre-holiday level, according to SMM sources.
One stainless steel mill in southwest China also purchased some high-grade resource at the same price, SMM learns.
On Oct. 9, ex-works prices were 740-760 yuan per mtu for Ni 10-15% NPI, and 800-805 yuan per mtu for Ni 4-6% NPI, both unchanged.
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