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[Ni] NPI (1.7-1.8%) Market Sentiment Improves Slightly
SHANGHAI, Oct. 26 (SMM) -- According to latest SMM sources, traded prices for NPI (1.7-1.8%) were RMB 2,930-2,950/mt in Liyi currently, and NPI (1.7-1.8%) was unavailable at RMB 2,900/mt.
Market insiders said prices for NPI (1.7-1.8%) remained low recently as a result of sluggish trading sentiment, but any downward room for NPI (1.7-1.8%) prices will be limited, since a number of traders and private steel mills will increase purchases when NPI prices are low; in addition, NPI (1.7-1.8%) output at a portion of producers in Linyi declined due to National Games and unit maintenance recently, leaving tightening market supply, and traded prices climbed as a result, and the market sentiment improved slightly as well.
Local producers were uncertain about market outlook given no solid support available from costs, since prices for nickel ore and coke remained stable recently. It will not be optimistic unless market demand continues to recover.
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