China Low-Grade NPI Price Rise on Supply Tightness, SMM Says

Mar 22, 2016 10:39

Source:SMM

Prices for low-grade NPI rose 10 yuan on Mar. 21 in China’s domestic spot market, according to SMM data.

SHANGHAI, Mar. 22 (SMM) – Prices for low-grade NPI rose 10 yuan on Mar. 21 in China’s domestic spot market, according to SMM data.

“The rise is due mainly to supply tightness, which encouraged some mills to raise their procurement price,” SMM nickel analyst points out.

Last week, mainstream traded prices for low-grade NPI were 1,740-1,760 yuan per tonne, averaging 1,750 yuan, up 50 yuan on a weekly basis, according to SMM data.

Some low-grade NPI producers in Jiangsu and Shandong raised ex-works prices to 1,780-1,800 yuan per tonne, SMM survey finds.

Last week, prices for 10-15% NPI were 700-705 yuan per wmt, unchanged, and 710-720 yuan for 4-6% NPI, up 7.5 yuan week-on-week, according to SMM data.

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China Low-Grade NPI Price Rise on Supply Tightness, SMM Says

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