Robust nickel prices buoy Feb's NPI purchasing prices

Published: Jan 30, 2019 15:43

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Feb's purchasing prices at a northern stainless steel mill increased 30 yuan/mtu from Jan, to 965 yuan/mtu

SHANGHAI, Jan 30 (SMM) – February's purchasing prices of high-grade nickel pig iron (NPI) at a northern stainless steel mill increased 30 yuan/mtu from January, to 965 yuan/mtu delivered to the plant with tax included, an SMM survey found.

Higher prices of nickel since the start of the year drove NPI producers to hike offers, which accounted for the higher purchasing prices. Purchasing volumes by the steel mill were limited.

Another SMM survey found that a stainless steel plant in the south made a weekly price enquiry 5-10 yuan/mtu higher than traded prices a week earlier, at 990 yuan/mtu delivered to the factory with tax included.

As logistics halted ahead of CNY, the steel mill planned to replenish its inventories with small volumes this week.

Market commentary Nickel pig iron NPI

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