A Steel Mill in North China Imported over 10,000 mt of NPI from Indonesia at 1,610 yuan/mt (Including Tax, Delivery to Ports)

SHANGHAI, May 17(SMM) - A large stainless steel mill in north China purchased thousands mt of high-grade NPI from Indonesia at 1,610 yuan/mtu (including tax, delivery to ports) to provide goods for traders with delivery in June. With the easing of supply shortage in the ferronickel market and the downward movement of nickel prices, ferronickel prices have loosened in the short term and remained weak.

Production lines of ferronickel from Indonesia continued to be put into production. It is expected that the imports of ferronickel will also increased, which will make a great impact on the domestic ferronickel market. Meanwhile, the supply will be loose. Ferronickel prices are expected to move in a downward trend in the long term.