One Large Stainless Steel Mill Stops Buying High-grade NPI on Rapid Gains, SMM Reports

Published: Jul 21, 2017 13:37

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One large stainless steel mill in east China decided to suspend purchasing high-grade NPI this past week, citing rapid price gains, Shanghai Metals Market learns.

SHANGHAI, Jul. 21 (SMM) – One large stainless steel mill in east China decided to suspend purchasing high-grade NPI this past week, citing rapid price gains, Shanghai Metals Market learns.

The mill purchased high-grade NPI at 825 yuan per mtu (price to factory) a week earlier, but this week, market traded prices are around 830 yuan per mtu (ex-works).

Production to Restart at One Shandong NPI Producer

The mill decided to stay out of the market due to expectation over nickel price decline after continuous rises and previous weeks’ purchases, SMM learns.

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