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MMi
Upstream Quotes for High-Grade NPI Remain Firm, Spot Prices Slightly Increase in the Short Term [Daily Review of NPI]
Jan 22, 2025, at 4:42 pm
[SMM Daily Review: High-Grade NPI Upstream Prices Remain Firm, Spot Prices Slightly Increase in the Short Term] January 22—SMM 8-12% high-grade NPI average price was 941 yuan/mtu (ex-factory, tax included), up by 0.5 yuan/mtu compared to the previous working day...
On January 22, SMM reported that the average price of 8-12% high-grade NPI was 941 yuan/mtu (ex-factory, tax included), up by 0.5 yuan/mtu compared to the previous working day.
Supply side, domestically, high-grade NPI prices fluctuated downward, and domestic smelters remained in a loss-making phase, with production expected to slightly 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 slightly increase.
Demand side, as the stainless steel market approaches the Chinese New Year holiday, stainless steel spot prices remained stable. Top-tier enterprises have sufficiently stocked up on raw materials before the holiday, while only some small and medium-sized stainless steel mills are making spot purchases. High-grade NPI demand has not shown a significant recovery.
High-grade NPI costs remain relatively firm, and in the short term, as the market approaches the Chinese New Year holiday, prices may still have room for recovery.
