Shanghai Nonferrous Metals News
19 September, SMM: Domestic NPI prices climbed to RMB1,145~1,165/Ni unit, up by RMB10/Ni unit on the previous trade day. Some NPI smelters with spot supply intend to quote high at RMB1,200/Ni unit, leaving some space for negotiation. Downstream steel mills are looking at RMB1,160~1,170/Ni unit (delivered), reluctant to take high offers.
SMM analysts take the view that high-NPI prices are likely to trend up further in the absence of additional low-price NPI supply flooding into the market in the short term.