






SHANGHAI, May 26 (CBI China) -- Prices of domestic NPI (10-15%) fell slightly by RMB 5/mtu to RMB 950-980/mtu on Monday. While nickel price rose by RMB 1,500/mt in Shanghai spot market today.
The market price remained stable, and the production restarts in NPI industry exerted increasing pressure on market supply, and some producers had to sell off low-quality resources, so the tightness of market supply from late April to early May has been eased.
Market insiders expressed their concerns over the market outlook. As the demand reported no improvements, and more and more capacity has been restarted, coupled with large volumes of imported resources, leading sufficient supply in domestic nickel market, so current nickel price faces greater pressure.
CBI believes the capacity restarts from late April to May will help provide sufficient resources for the supply market during June, while it will also exert great pressure on NPI (10-15%) price.
Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040
For queries, please contact Lemon Zhao at lemonzhao@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn