Shanghai Nonferrous Metals News
China produced 31.5 kt of NPI (in Ni metal) in September 2022, up by 6.67% m-o-m and up by 2.53% y-o-y. The demand for NPI increased rapidly led by increasing orders from stainless steel mills in the wake of rising prices of stainless steel. High-NPI production rose to 24.6 kt, and low-NPI production rose to 6.9 kt (in Ni metal), up by 6.67% and 3.32% m-o-m respectively. NPI prices rebounded in September following increased stainless steel prices.
SMM forecast domestic NPI production at 33.3 kt in October, up slightly from 31.5 kt (in Ni metal) in September 2022.