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Home / Metal News / Supply surge weighs on prices of high-grade NPI

Supply surge weighs on prices of high-grade NPI

Sep 17, 2018 13:26

Source:SMM

Price spread of high-grade NPI and nickel turned into discounts as of Friday Sep14

SHANGHAI, Sep 17 (SMM) – The price spread of high-grade nickel pig iron (NPI) and nickel in the Chinese market turned into discounts as of Friday September 14 as supplies grew significantly in September, SMM learned.

Discounts stood at 3.50 yuan/mtu as of Monday September 17.

Two major stainless steel mills in east China are expected to import some 40,000 mt in physical content of high-grade NPI in September, after they failed to import any in May-August. A producer in the east also added 30,000 mt in physical content of high-grade NPI into the market earlier this month.

Market commentary

Nickel

High-grade nickel pig iron

NPI

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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.

Mar 18, 2022 13:23

SMM Insight

SMM Minutes: Pandemic Strikes Again, Transactions and Transportation of Spot Market Restricted

SMM Evening Comments (Jan 22): Nonferrous metals on the SHFE fell for the most part, zinc plunged 2.51%

SHFE nonferrous metals declined broadly on Friday January 22. Copper fell 0.61%, zinc slumped 2.51%, lead shed 0.66% and nickel weakened 1.13%, while aluminium edged up 0.1% and tin rose 1.83%.

Jan 22, 2021 19:11

SMM Comments

SMM Evening Comments (Jan 22): Nonferrous metals on the SHFE fell for the most part, zinc plunged 2.51%

Nickel ore inventories at Chinese ports fell 260,000 wmt to 8.61 million wmt

Nickel ore inventories across all Chinese ports decreased 260,000 wmt from January 15 to 8.61 million wmt as of January 22, showed SMM data.

Jan 22, 2021 16:56

Analysis

Nickel ore inventories at Chinese ports fell 260,000 wmt to 8.61 million wmt

SMM Morning Comments (Jan 22): Shanghai base metals performance mixed as traders monitored the beginning of Joe Biden’s presidency

Shanghai base metals traded mixed on Friday morning as traders monitored the European Central Bank's latest meeting and the beginning of Joe Biden's presidency. Meanwhile, their counterparts on the LME also set for a mixed start.

Jan 22, 2021 10:00

SMM Comments

SMM Morning Comments (Jan 22): Shanghai base metals performance mixed as traders monitored the beginning of Joe Biden’s presidency

SMM Evening Comments (Dec 25): Shanghai nonferrous metals rose across the board for the 2nd day

SHFE nonferrous metals closed higher across the board on Friday December 25.

Dec 25, 2020 18:00

SMM Comments

SMM Evening Comments (Dec 25): Shanghai nonferrous metals rose across the board for the 2nd day

SMM Morning Comments (Dec 21): Base metals on both SHFE and LME fell mostly on dollar bounce-back

Shanghai base metals and their counterparts on the LME cruised lower for the most part on Monday morning as the US dollar rebounded slightly.

Dec 21, 2020 10:05

SMM Comments

SMM Morning Comments (Dec 21): Base metals on both SHFE and LME fell mostly on dollar bounce-back

SMM Evening Comments (Nov 23): Shanghai nonferrous metals closed mostly higher, tin fell 0.01%

SHFE nonferrous metals rose for the most part on Monday November 23 as investors continued to watch for coronavirus developments.

Nov 23, 2020 17:30

SMM Comments

SMM Evening Comments (Nov 23): Shanghai nonferrous metals closed mostly higher, tin fell 0.01%

SMM Morning Comments (Nov 20): Shanghai base metals were mostly higher and the LME complex also rose for the most part

Nonferrous metals on the SHFE were mostly higher on Friday morning, and their counterparts on the LME also rose for the most part.

Nov 20, 2020 09:25

SMM Comments

SMM Morning Comments (Nov 20): Shanghai base metals were mostly higher and the LME complex also rose for the most part

SMM Evening Comments (Nov 16): Shanghai nonferrous metals rose broadly on the signing of RECP and positive Chinese economic data

SHFE nonferrous metals were mostly higher on Monday November 16 on the signing of the Regional Comprehensive Economic Partnership (RECP) over the weekend and upbeat Chinese economic data released today.

Nov 16, 2020 18:48

SMM Comments

SMM Evening Comments (Nov 16): Shanghai nonferrous metals rose broadly on the signing of RECP and positive Chinese economic data

SMM Morning Comments (Nov 12): Shanghai base metals performance mixed as the pandemic situation remains severe

Shanghai base metals traded mixed on Thursday morning following an overnight bounce for tech stocks on Wall Street as a recent rotation into cyclicals paused. Meanwhile, their counterparts on the LME also set for a mixed start.

Nov 12, 2020 09:28

SMM Comments

SMM Morning Comments (Nov 12): Shanghai base metals performance mixed as the pandemic situation remains severe

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Supply surge weighs on prices of high-grade NPI

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