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Home / Metal News / Why Low-grade NPI Rise in February amid Higher Output? SMM Reports

Why Low-grade NPI Rise in February amid Higher Output? SMM Reports

Mar 15, 2017 11:54

Source:SMM

China’s low-grade NPI output grew by around 6% in February, but low-grade NPI prices advanced in the month. Why?

SHANGHAI, Mar. 15 (SMM) - China’s low-grade NPI output grew by around 6% in February, but low-grade NPI prices advanced in the month.

Why?

In February, China produced 433,500 tonnes of low-grade NPI, up nearly 6 percent MoM, mainly contributed by low-grade NPI-stainless steel integrated mills.

Sources: Glencore Sells Indonesian Nickel Ore

Output at integrated mills is mainly for self-use, while goods trading in the market are mainly supplied by non-integrated mills.

SMM survey finds that output at non-integrated mills was down 13,500 tonnes or 17 percent MoM to 65,500 tonnes in February.

Hence, the decline in market trading volumes, which tightened market supply, explained the rise in low-grade NPI prices in February.

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