SMM

China produced 31,100 mt in Ni content of NPI in July, down 8.82% MoM and 25.75% YoY. As the stainless steel market was weak amid the off-season, the demand for NPI declined. In addition, due to the inflow of Indonesia NPI, the market supply was in huge surplus. The output of high-grade NPI stood at 25,000 mt (Ni content), down 7.15% MoM in July.