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Home / Metal News / NPI Prices Fell After Experiencing a Small Increase

NPI Prices Fell After Experiencing a Small Increase

May 15, 2023 15:09

Source:SMM

Last Friday, the average price of 8-12% high-grade NPI was 1,125 yuan/mtu (ex-factory, including tax), down 5 yuan/mtu from the previous trading day.

SHANGHAI, May 15 (SMM) - Last Friday, the average price of 8-12% high-grade NPI was 1,125 yuan/mtu (ex-factory, including tax), down 5 yuan/mtu from the previous trading day and up 20 yuan/mtu from the previous Friday. The overall NPI demand from the stainless steel sector was high though some loss-making mills carried out maintenance on poor downstream demand. But some NPI traders lowered their quotes on plunging nickel prices, and the NPI prices also bore a certain pressure from the stainless steel scrap price decline amid its growing supply. The downward space of NPI prices was limited by the supply tightness in the market. On the supply side, some Indonesia NPI has arrived at Chinese ports, and the spot NPI held by some traders will grow due to the slumping nickel prices. In terms of cost, prices of nickel ore shipped from the Philippines rose slightly, supporting the NPI prices to a certain extent. The mainstream NPI prices will be 1,090-1,115 yuan/mtu (ex-factory, including tax) this week.

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