SHANGHAI, Dec 16 (SMM) – Some domestic NPI plants will remain in suspension in December, and the output NPI in December is expected to drop by about 8,000 mt (Ni content), including 5,000 mt (Ni content) of high-grade NPI.
The high-grade and low-grade NPI production in Shandong and Guangdong has been kept low since the power rationing was implemented. Some NPI plants in north China have reduced the production due to adverse weather. Besides, the plants in Beijing-Tianjin-Hebei region will reduce the energy consumption for environmental protection approaching the Beijing Winter Olympics. Some plants will also suspend the production for maintenance.
The NPI supply is in a surplus as the stainless steel mills have reduced the purchases amid losses.
The shrinking profits of steel mills have also caused the NPI prices to drop significantly recently.
The NPI prices may not rebound until the demand by steel mills grows.