High-grade NPI prices stay firm on short supply

Jun 27, 2018 17:37

Source:SMM

High-grade NPI was heard traded this week at 1,075 yuan/mtu

SHANGHAI, Jun 27 (SMM) – A cargo of high-grade nickel pig iron (NPI) was heard traded this week at 1,075 yuan/mtu ex-factory, including tax, SMM learned.

High-grade NPI is currently in short supply as environmental reviews weigh on the production, which buoyed the prices.

A trader made the purchase with volume of some 1,000 mt.

SMM also learned that plants in the north purchased nickel ore with 1.5% Ni from the Philippines and ore with 1.65% Ni from Indonesia at $31.5/wmt cif and $45/wmt cif, respectively, this week. The traded prices were $0.5-1/wmt lower than the level seen earlier this month.

Traders had to lower offers to offload their cargoes as demand is hurt by high-grade NPI production limitations.

Tradeflow

Nickel pig iron

Nickel ore

Market commentary

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High-grade NPI prices stay firm on short supply

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