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High-Grade NPI Market Transactions Rebound, Prices May Rise Slightly in the Short Term [NPI Daily Review]
Jan 16, 2025, at 6:20 pm
[SMM Daily Review: High-Grade NPI Market Transactions Rebound, Prices May Rise in the Short Term] January 16—The average price of SMM 8-12% high-grade NPI was 938 yuan/mtu (ex-factory, tax included), up by 2.5 yuan/mtu compared to the previous working day...
SMM, January 16 – On January 16, the SMM 8-12% high-grade NPI average price stood at 938 yuan/mtu (ex-factory, tax included), up by 2.5 yuan/mtu from the previous trading day.
Supply side, domestically, high-grade NPI prices fluctuated downward, with weak production incentives among domestic smelters, and production is expected to decline. In Indonesia, with the release of some new capacity and additional output from the conversion of some high-grade nickel matte, high-grade NPI production is expected to increase slightly.
Demand side, current stainless steel prices have stabilized and rebounded, and steel mill profits have recovered. The reduction in production this month is expected to ease compared to the previously planned production schedule. The economic advantage of high-grade NPI over stainless steel scrap has expanded, leading to an increase in its usage ratio MoM.
Currently, circulating resources in the market have tightened due to an increase in the proportion of long-term contracts with steel mills. In the short term, high-grade NPI prices may stabilize and rebound.
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