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Home / Metal News / Low-Grade NPI Preferred by Stainless Steel Mills, Supporting Ore Prices, SMM Reports

Low-Grade NPI Preferred by Stainless Steel Mills, Supporting Ore Prices, SMM Reports

Dec 29, 2015 16:43

Source:SMM

Domestic stainless steel mills now prefer to buy low-grade NPI to mix with refined nickel for production, Shanghai Metals Market reports.

SHANGHAI, Dec. 29 (SMM) – Domestic stainless steel mills now prefer to buy low-grade NPI to mix with refined nickel for production, Shanghai Metals Market reports.

“The greater difficulties in buying high-grade NPI have pushed mills to buy low-grade resources in production,” SMM nickel analyst says.

The preference in low-grade NPI resources pushed up prices of raw materials, SMM finds.

On Dec. 29, prices for low-grade nickel ore (Ni 0.9-1.0%) advanced to 125-145 yuan per wmt, up 5 yuan, according to SMM data.

The same day, prices of medium and high-grade ore held stable at 170-270 yuan per wmt, and 370-420 yuan per wmt, respectively, SMM data showed.

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