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.
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.
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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