SHANGHAI, May 10 (SMM) - Chinese NPI output stood at 243,000 mt in physical content in April, down 4.74% MoM and 25.09% year-on-year. The total Ni content was 28,400 mt. In April, some NPI factories still cut their production due to losses even though the NPI prices rebounded, and some reduced output on equipment failure. On the other hand, the NPI demand from stainless steel mills remained poor as the mills also got low profits.
In detail, the output of high-grade NPI was about 21,800 mt in Ni content, down 7.08% MoM, while that of low-grade NPI output added 4.07% to 6,500 mt in Ni content as some low-grade NPI companies integrated with stainless steel capacity resumed normal operation in April.
It is estimated that the Chinese NPI output in May will grow 6.71% from April to around 23,700 mt in Ni content. Some high-grade NPI plants will carry out maintenance, but the overall NPI output will still balloon amid growing downstream demand as the stainless steel mills will ramp up their production intensively.
