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Home / Metal News / NPI prices held stable [NPI daily review]

NPI prices held stable [NPI daily review]

Apr 24, 2024 17:11

Source:SMM

On April 24, SMM 8-12% high-grade NPI prices averaged 956 yuan/mtu (ex-factory, including tax), remaining the same as the previous working day.

On April 24, SMM 8-12% high-grade NPI prices averaged 956 yuan/mtu (ex-factory, including tax), remaining the same as the previous working day. From the supply side, Indonesian Lebaran caused slow RKAB approval. In addition, as mining did not increase, raw material supply for smelters was still tight. Therefore, NPI had strong cost support but low production. Due to losses, some NPI smelters shut down with an unclear time for production resumption, so NPI supply was limited. From the demand side, as May approaches, the raw material demand of stainless steel mills has been released in advance, elevating NPI traded prices. Today, a steel mill in South China purchased NPI at 990 yuan/mtu, with a delivery date in May. In summary, with the rebound in spot stainless steel prices and the strong support of NPI costs, NPI prices are expected to rise in the short term.

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