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Home / Metal News / [Ni] NPI Prices Continue to Rise

[Ni] NPI Prices Continue to Rise

iconJun 16, 2009 00:00
Source:上海有色金属网

SHANGHAI, June 16 (CBI China) -- NPI (nickel content < 2%) ex-woks prices increased, and the ex-works prices rose by RMB 100/mt to RMB 3,300-3,400/mt.

    Producers continued to operate at full capacity with ample orders due to positive buying interest of consumers. Offers for spot goods increased by RMB 100/mt to RMB 3,400-3,500/mt. The actual spot supply was limited due to existing orders, with the traded price near to RMB 3,400/mt.

    Along with continuous increases in coal prices, coke prices has risen to RMB 1,700-1,750/mt, and most of NPI producers were concerned that coke price would continue to rise, so they decided to raise the NPI ex-works prices in July.

    The downstream stainless steel factories said continuous increases in NPI prices will exert greater pressure on their production cost of stainless steel. As the traded price of stainless steel was lower than offers, and the transactions were also weak, so they will show resistance to the NPI price above RMB 3,300/mt. Currently, stainless steel producers held a wait-and-see attitude toward NPI prices.

    Rising coke price helped support NPI prices, and the purchasing volumes were mainly from large steel mills. Sources report that a large blast furnace for NPI production at a stainless steel plant in Fujian province will be commissioned in late June or early July, which will help increase market supply at that time.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

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