[SMM Nickel Flash] July 30 news: According to SMM, several transactions were concluded in the high-grade NPI market, breaking the days-long stalemate. The trading price range was 1,155-1,160 yuan/nickel unit, on an EXW port basis, with nickel content between 10.5% and 11.5%. The total trading volume exceeded 10,000 mt, for delivery in August.

[7.29 Morning Meeting Minutes] The US Fed is scheduled to announce its interest rate decision at 2 a.m. Beijing time on Thursday, and Fed Chairman Warsh will hold a press conference as usual at 2:30 a.m., which has been dubbed by the industry as the most unpredictable Fed decision. The most-traded SHFE nickel contract (2609) plunged sharply in the night session, with prices gradually rebounding in the morning session before closing at 131,660 yuan/mt, up 0.08%. The short-term trading range for the most-traded SHFE nickel contract (NI2609) is expected to be 128,000-135,000 yuan/mt.

[SMM Nickel Flash] On July 29, fixed-price actual orders for high-grade NPI remain scarce, with market transactions generally based on a premium/discount negotiation model. Premiums for mainstream supply have edged down from earlier levels, but upstream and downstream price levels remain difficult to match. Bearish sentiment persists on the demand side, and the market remains cautious about the outlook for August.

[SMM Nickel Flash] July 29 news, SMM high-grade NPI market sentiment factor was 1.98, flat MoM, the upstream sentiment factor for high-grade NPI was 2, flat MoM, and the downstream sentiment factor for high-grade NPI was 1.95, flat MoM. Today, the tug-of-war atmosphere in the spot high-grade NPI market continued.

[SMM Nickel Express] July 28 news: The high-grade NPI spot market continued its stalemate game pattern, with overall trading mediocre and actual transaction deals scarce. The price spread divergence between upstream and downstream persisted, and the market showed a divergent feature of weak spot and strong forward. Some cargoes were affected by disruptions, leading to shipment delays, which slowed down the release pace of spot circulation in the short term, providing phased support for spot prices.

[SMM Nickel Flash] July 28 - SMM high-grade NPI market sentiment factor was 1.98, down 0.02 MoM; high-grade NPI upstream sentiment factor was 2.00, down 0.03 MoM; high-grade NPI downstream sentiment factor was 1.95, down 0.02 MoM.