NPI Prices are Stable Last Week Owing to the High Costs of NPI Plants and the Tight Spot Supply in the Market

Published: Jan 16, 2023 16:33

Source: SMM

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The NPI market witnessed almost no important transactions last week.

SHANGHAI, Jan 16 (SMM) - The NPI market witnessed almost no important transactions last week. Last Friday, the average price of SMM 8-12% high-grade NPI was 1,360 yuan/mtu (ex-factory, including tax), flat from the previous trading day and the previous Friday. The demand was slack last week as the Chinese New Year came closer. The logistic services may be suspended this week. It is expected that the follow-up transactions will decrease further. NPI output may drop in January since the steel mills cut their production and the nearby alloy manufacturers have concluded the pre-CNY stockpiling. NPI supply in the spot market stood low except for goods hoarded in the traders’ hands. Nickel ore prices remained stable last week, supporting the NPI prices to some extent. The overall NPI prices were steady, and the buyers and sellers were not active in trading. The NPI market will see almost no transactions before the Chinese New Year even though high-grade NPI demand from some steel mills may grow. The mainstream prices of NPI will move between 1,350-1,370 yuan/mtu (ex-factory, including tax) this week.

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