Rising Momentum to Continue in China NPI Market, SMM Says

Published: Apr 27, 2016 11:15

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China’s NPI market has been rising recently, and the rising momentum is expected to continue this week, Shanghai Metals Market foresees.

SHANGHAI, Apr. 27 (SMM) – China’s NPI market has been rising recently, and the rising momentum is expected to continue this week, Shanghai Metals Market foresees.

“Bullish sentiment remains strong in China’s NPI market along with rising nickel prices, tight supply and robust demand,” SMM nickel analyst points out.

LME Nickel to Extend Gains This Coming Week

High-grade NPI suppliers, with optimistic outlook, are now unwilling to sell products, having created difficulties in purchasing the resource. This, also, has pushed some mills to buy low-grade NPI, whose price has been rising steadily, SMM survey finds.

High-grade NPI prices are expected to rise to 740-760 yuan per tonne this week, SMM predicts, and domestic stainless steel mills are also estimated to raise their procurement price.

One North-China Stainless Steel Lifts High-grade NPI Procurement Price by 40 yuan

Last week, ex-works prices for NPI (Ni 10-15%) were 730-750 yuan per mtu, up 17.5 yuan week-on-week, and those for NPI (Ni 4-6%) were7 45-755 yuan per mtu, up 20, according to SMM data.

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China NPI price npi price nickel price LME nickel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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