SHANGHAI, Sept. 8 (SMM) – One major stainless steel mill in east China released the procurement price for high-grade NPI this past week, and the price was lower than expected, Shanghai Metals Market learns.
The mill set the purchase price at 1,000 yuan per mtu, and trading volumes were lower than normal, totaling about 1,000-2,000 tonnes.
Despite lower-than-expected price, some suppliers sold goods at the price, worrying that the price would lack the rising momentum.
Last week, the mill bought 4,000-5,000 tonnes of goods after its purchase price at 985 yuan per mtu was accepted by one supplier.
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