Rising Momentum to Continue in China NPI Market, SMM Says-Shanghai Metals Market

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Rising Momentum to Continue in China NPI Market, SMM Says

SMM Insight 11:15:16AM Apr 27, 2016 Source:SMM

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.  

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

Rising Momentum to Continue in China NPI Market, SMM Says

SMM Insight 11:15:16AM Apr 27, 2016 Source:SMM

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.  

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