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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