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|In China, FeNi Price Recovers, but NPI Price Remains Unchanged|
|=Price hike enables producers to resume production=|
In the Chinese market, ferro-nickel products with high nickel content has recovered its price and shown an upward trend. This is because this price is linked to LME nickel price. On the other side of the coin, the price of low nickel product (NPI) which is not linked to LME price has remained unchanged since the beginning of August, and shown the current status that the actual demand for nickel in the Chinese domestic market has not recovered yet.|
The price of high nickel product with Ni being more than 10% rose to CNY960 - CNY970 (in pure Ni equivalent, delivered at factory) on August 16 from CY920 - CNY940 in the beginning of the month, and then has continued to go up gradually to CNY980 - CNY990 till August 23.
On the other hand, the price of low nickel product (NPI) with Ni being less than 2% has remained unchanged at CNY2,500 - CNY2,550 per ton as mentioned before.
Persons concerned with the market in China anticipate the gradually-increasing price of high nickel product to continue for a while. In case the price of high nickel product exceeds a certain level, the demand for NPI will increase as the price competitiveness is generated.
Albeit the nickel consumption itself in the Chinese domestic market is yet to be recovered, it seems the producers which now suspend production have got motivated to resume production because of the price of high nickel product going up.
|last modified : Fri 30 Aug, 2013 [14:15]|