High-grade NPI price inches up on tight supply

On the supply side: Due to large import losses, NORNICKEL nickel, Sumitomo, NIKKELVERK nickel and Nickel briquette could not pass customs clearance, the market was in shortage of pure nickel.

China’s copper cathode output increased month on month in October, as there was basically no maintenance at smelters and as large-scale smelters maintained high production in Q4. Although domestic copper scrap was in short supply in October, smelters kept relatively ample stocks of blister copper. Furthermore, as the new secondary copper policy took effect from November 1, concerns over copper scrap supply were eased.

Mining and smelting firms will be particularly targeted in this round of inspections

March's purchasing prices of high-grade NPI at a northern stainless steel mill increased 55 yuan/mtu from Feb, to 1,020 yuan/mtu

The agreement was signed during the first-ever China International Import Expo on Tuesday Nov 6

The most traded SHFE zinc contract fell for the third straight week, in the week ended Nov 2

Spot discounts in Shanghai were heard at 50-40 yuan/mt, compared to 40-30 yuan/mt in the previous day

This is a roundup of China’s base metals output in Sep, researched by SMM

PT Sulawesi Mining Investment, PT Virtue Dragon in Indonesia plan to expand their high-grade NPI capacity within this year

Spot copper was mostly offered at a discount of 180-110 over the SHFE 1807 contract in Shanghai