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Why Low-Grade NPI Price Fall? SMM Reports
Jun 13, 2016 14:56Source:SMM
Prices of low-grade NPI have been falling since Chinese Dragon Boat Festival starting from Jun. 9 to 11. What factors are behind the decline?
SHANGHAI, Jun. 13 (SMM) – Prices of low-grade NPI have been falling since Chinese Dragon Boat Festival starting from Jun. 9 to 11. What factors are behind the decline?
At present, low-grade NPI price is 2,220-2,250 yuan per tonne, with average price down 40 yuan since the holiday, according to SMM data.
“Demand from stainless steel mills is waning, giving no price support to low-grade NPI,” SMM nickel analyst points out.
Prices of #200 stainless steel are dropping with weak demand and falling coke prices, and prices of LH/2B coils in the Wuxi market, produced by Angang Lianzhong Stainless Steel Corporation, fell to 7,500-7,600 yuan per tonne, down about 9 per cent from May’s high.
One NPI producer told SMM that low-grade NPI prices will likely keep falling for the foreseeable due to low acceptance to the price at around 2,250 yuan.
Despite of falling prices, profits at domestic low-grade NPI producers are around 12 per cent, SMM estimates, due to falling coke prices.
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