China High-grade NPI Prices to Drop Next Week, SMM Says

Published: Nov 27, 2015 15:50

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Prices of high-grade NPI in China’s market are expected to drop this coming week, Shanghai Metals Market foresees.

SHANGHAI, Nov. 27 (SMM) – Prices of high-grade NPI in China’s market are expected to drop this coming week, Shanghai Metals Market foresees.

Over this past week, the high-grade NPI market gained with rising nickel prices, but such gains are not expected to be sustainable, SMM nickel analyst predicts, citing weak market fundamentals.

On Friday (Nov. 27), ex-works prices for Ni 10-15% were 700-720 yuan per mtu, and 720-730 yuan per mtu for Ni 4-6%, both up 25 yuan per mtu week-on-week, according to SMM data.

Conditions in the low-grade NPI market remained weak, with prices down 35 yuan on Friday to 1,560-1,600 yuan per tonne.

This coming week will see further declines in the low-grade NPI market, with prices expected at 1,550-1,600 yuan per tonne, SMM estimates.

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Ni price China NPI price npi price

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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