The trading pace of high-grade NPI slowed down before the holiday, and the market price is expected to remain stable in the short term. [NPI Daily Review]

Apr 02, 2025, at 5:05 pm

[SMM Daily Review: High-Grade NPI Trading Slows Down Before the Holiday, Market Prices Remain Stable in the Short Term] On April 2, the average price of SMM 8-12% high-grade NPI was 1,030.5 yuan/mtu (ex-factory, tax included), unchanged from the previous working day...

SMM reported on April 2 that the average price of 8-12% high-grade NPI was 1,030.5 yuan/mtu (ex-factory, tax included), unchanged from the previous working day. Supply side, domestically, the replenishment of nickel ore from the Philippines remained weak, smelter profits slightly recovered, and production growth was limited. In Indonesia, the release of nickel mines still required time to materialize, with current premiums at highs. Although there were new production ramps, capacity release was relatively limited, and NPI supply in Indonesia slightly increased. Demand side, stainless steel production continued to fluctuate at highs, and the demand for high-grade NPI was optimistic. Coupled with the current tight market circulation, the transaction price range of NPI was relatively concentrated. Recent transactions were active, and the price range was within the mainstream market range. In the short term, high-grade NPI prices are expected to remain stable. 》Order to view SMM metal spot historical prices

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