SMM

This week, the high-nickel pig iron (NPI) market has seen a steady rise in prices. According to the latest data, the weekly average price of SMM 8-12% high-nickel pig iron reached 944.2 RMB per nickel point (ex-factory, including tax), up 3.1 RMB per nickel point compared to last week. Meanwhile, the Indonesian NPI FOB index increased by 0.5 USD per nickel point from last week, reflecting the market's continued bullish confidence in high-nickel pig iron prices.On the supply side, there have been some positive changes in the domestic market. With the end of the Spring Festival holiday, major smelters have gradually resumed operations after maintenance, bringing production back to relatively normal levels. However, due to the reduced number of production days this month, the increase in output has been somewhat limited. Meanwhile, in Indonesia, overall production has declined due to fewer production days and adjustments in the production pace in some areas.