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Home / Metal News / China Low-Grade NPI Price Rally on Demand Increase, SMM Reports

China Low-Grade NPI Price Rally on Demand Increase, SMM Reports

iconDec 31, 2015 10:35
Source:SMM
China’s low-grade NPI market has staged price rallies since December, up 4.43% from year’s low, Shanghai Metals Market reports.

SHANGHAI, Dec. 31 (SMM) – China’s low-grade NPI market has staged price rallies since December, up 4.43% from year’s low, Shanghai Metals Market reports. 

The price began its declines since this February, and tumbled by 40.93 percent from year’s high of 2,675 yuan to 1,580 yuan per tonne. On Dec. 30, prices of low-grade NPI rose to 1,650 yuan per tonne, according to SMM data. 

The rally in price is due mainly to improved demand, SMM understands. 

“Domestic stainless steel mills, facing difficulties in purchasing high-grade NPI, now choose to buy low-grade NPI and refined nickel for production needs, improving demand” SMM nickel analyst points out. 

Tumbled nickel prices in 2015 have pushed most NPI producers into loss territories, so domestic high-grade NPI producers have curtailed production, SMM survey finds, reducing spot supply. 

“Price gains in low-grade NPI market are expected to continue for the foreseeable future, but any further rising momentum will be small,” SMM adds, citing production resumption and little cost supports as major factors. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

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