Manufacturing In 200/300/400 Series Stainless Steel Since 2004. 【Online Catalogs】

Frequent news of production reduction and shutdown of stainless steel mills were

2023-03-23
2023 On March 22, the average price of SMM Ni 8-12% high-grade NPI was 1,190 yuan/mtu (ex-factory, tax included), flat from the previous trading day. 

Frequent news of production reduction and shutdown of stainless steel mills were bearish for NPI prices. 
The prices of finished products dropped following the raw material prices, limiting the stainless steel mills’ profit margins. 

Therefore, the mills were less willing to purchase raw materials at low prices. Due to the production cuts of domestic and Indonesia NPI plants, the overall NPI inventory declined. Under the falling futures prices, the traders’ sentiment gradually weakened. 

Therefore, some traders who still had high inventory began to lower thier prices.

At the same time, ore prices stabilised after falling sharply, hence the profits recovered limitedly. believes that the short-term NPI prices will probably fall.

Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.