Latest Update in the SMM Nickel Market

Nickel Ore Indonesian Domestic Trade Laterite Nickel Ore Transactions Were Active This Week, Prices Fluctuated Upward High-Grade NPI Market Resources Tighten Ahead of Chinese New Year, Post-Holiday Prices Expected to Remain Stable  

In this week's nickel market, the price trend of high nickel pig iron (NPI) has been particularly noteworthy. According to market monitoring, the average price of SMM 8-12% high nickel pig iron reached 941.1 yuan/nickel point, an increase of 5.2 yuan/nickel point compared to last week. Meanwhile, the Indonesian NPI FOB index was also adjusted up by 1.3 USD/nickel point compared to last week, indicating a further recovery of market prices.

[SMM Analysis: High-Grade NPI Prices Rebound as Tight Market Supply Drives Price Recovery] This week, the high-grade NPI market experienced a significant price rebound. The average price of 8-12% high-grade NPI was 935.9 yuan/mtu (ex-factory, tax included)...

On January 24, the SMM battery-grade nickel sulphate index price was 26,576 yuan/mt, with the quotation range for battery-grade nickel sulphate at 26,380-27,040 yuan/mt, and the average price remained unchanged from the previous day.

[Significant Pullback in Refined Nickel Futures Market This Week, Sluggish Market Transactions] This week, nickel prices fluctuated upward, with spot prices ranging between 126,950-130,700 yuan/mt, while SHFE nickel futures prices ranged between 125,700-128,800 yuan/mt.

[SMM Daily Review: Market Inquiries Remain Quiet Before Chinese New Year, High-Grade NPI Prices Stay Stable] January 24 - SMM 8-12% high-grade NPI average price is 942 yuan/mtu (ex-factory, tax included), unchanged from the previous working day...

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 24 Jan, 2025