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What Factors Drive up China NPI Prices? SMM Reports

iconMar 30, 2016 15:17
Source:SMM
Recently, NPI prices in China’s domestic markets, covering all grades of the product, have been rising. What factors are behind the rise?

SHANGHAI, Mar. 30 (SMM) – Recently, NPI prices in China’s domestic markets, covering all grades of the product, have been rising. What factors are behind the rise? 

According to SMM data, high, medium, and low-grade NPI recently has reported a gain of 10 yuan, 10 yuan and 75 yuan, respectively. On Mar. 30, prices are 710-715 yuan per mtu and 710-715 yuan per mtu, and 1,880-1,920 yuan per tonne, respectively, for high, medium and low-grade NPI. 

“The gain is mainly because downstream producers have stepped up purchases, boosting market prices,” SMM nickel analyst said. 

Supply disruption of anthracite coal from North Korea after import restrictions serves as another price driver in low-grade NPI, SMM added, in addition to buying preference after supply of high-grade NPI tightened.   

China Sees Declines in Nickel Ore Inventories after 50,000-tonne Rise, SMM Reports

Inner Mongolia Thai industry will put online its 1-mln tpy stainless steel project in April, with monthly capacity around 40,000 tonnes at earlier stage, which will need around 20,000 tonnes of high-grade NPI per month, SMM reports.  

The company, located in Fengzhen, Inner Mongolia, will enjoy geographical advantages in NPI purchases compared with buyers from other regions, and this will reduce high-grade NPI supplies to other regions, SMM foresees.  

Currently, high-grade NPI output is around 27,000-28,000 tonnes in Ulanqab, Inner Mongolia, SMM survey finds. 

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