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[Ni] NPI Price Falls Further
SHANGHAI, Apr. 28 (CBI China) -- NPI prices ended upward trend since last week due to declines in prices of nickel and stainless steel. Nickel price continued to edge down this week, so prices of domestic NPI (10 -15%) followed downward trend and fell to RMB 950-1,000/mtu.
According to a CBI survey on Chinese closed NPI producers, 5 submerged arc furnace producers restarted production in April, accounting for 12% of a total of 11 domestic submerged arc furnace producers. In this context, although domestic NPI supply was limited currently, market supply will increase due to the production resumption at these producers.
Although orders received by stainless steel producers increased compared to previous level, the actual downstream demand experienced no improvements. So NPI market trading sentiment will remain to be seen.
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