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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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A high-grade NPI producer in Inner Mongolia to suspend production at end-June, taking 1,700 mt per month offline

Tianrun Special Alloy, a high-grade nickel pig iron (NPI) producer in north China’s Inner Mongolia will suspend production at the end of June, when its existing nickel ore stocks are expected to be depleted, SMM learned.

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Supply surge weighs on prices of high-grade NPI

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