In China, the average price of NPI (Nickel Pig Iron) dropped by 5 yuan/mtu ($5) and decreased by 65 yuan/mtu ($9.43) from the previous week, reaching 1,082 yuan/mtu ($157). The weak demand for stainless steel has led to production restrictions at factories and fluctuations in NPI prices.
Due to the price trend in factories, stainless steel prices also showed a decrease. The profit margin increased within a small range.
Similarly, factories stated that they would accept lower raw material prices.
In Indonesia, NPI prices this week will be 1,050-1,080 yuan/mtu (including VAT) ($152-$156). With the drop in nickel ore prices, NPI costs have also decreased, and further drops in ore prices are expected.
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