SHANGHAI, Jun. 9 (SMM) – China’s NPI output was down in May on a monthly basis, SMM data showed. What are major factors behind the decline, and will the decline be continuing in June?
SMM attributes two reasons behind the output decline on a monthly basis. First, domestic EAF NPI producers in Inner Mongolia suspended or cut output due to big losses, and all EAF NPI producers in Jiangsu halted production for the same reason. Second, demand for low-grade NPI was poor, and some producers shifted to producing pig iron.
SMM expects China’s NPI output to grow by about 8 per cent in June on a monthly basis, though.
In June, some RKEF NPI producers are likely to grow output, such as Jiangsu Delong Nickel, which may increase high-grade NPI output along with its stainless steel production resumption. Meanwhile, some low-grade NPI producers resumed production in early June to consume on-hand low-grade nickel ore inventories.
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