Supply surge weighs on prices of high-grade NPI-Shanghai Metals Market

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Supply surge weighs on prices of high-grade NPI

Price Review & Forecast 01:26:13PM Sep 17, 2018 Source:SMM

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.

Supply surge weighs on prices of high-grade NPI

Price Review & Forecast 01:26:13PM Sep 17, 2018 Source:SMM

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.