China import nickel concs prices firm on solid demand
Jul 07, 2020 18:30
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The price of Philippines-origin nickel concentrates with 1.5% Ni content in East China remained at Yuan 401/tonne ($57.1/t) including the 13% VAT as of July 7, unchanged on week and still at the record high since Mysteel commenced the price assessment in February 2017. Most domestic nickel pig iron (NPI) smelters are nursing low stocks and so still have immediate demand for replenishment – even though NPI prices have been continually falling of late, a market source said on Tuesday.
The softer NPI prices are encouraging some smelters to conduct maintenance on facilities to reduce NPI output. However, most smelters have plans to stock up over July-September in preparation for the coming rainy season in the Philippines, a Shanghai-based market watcher said, while others plan to commission capacity expansions in