SHANGHAI, Aug. 9 (SMM) – China’s NPI output grew 11.5 per cent to around 35,000 tonnes in July.
With surging price of high-grade NPI, profits at domestic RKEF NPI producers improved significantly, and this also encouraged them to run at higher rates, up from 65.5 per cent in June to 72.9 per cent in July.
Domestic EAF NPI producers, however, showed low production enthusiasm due to market pessimism from previously big losses and no significant improvement in profits so far, which was on the loss-profit brink.
Output at domestic BF NPI producers grew slightly with profits recovering.
SMM expects China’s NPI production to keep growing in August, with output estimated at 37,400 tonnes.
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