SMM

Currently, the cost of producing stainless steel from stainless steel scrap is around 14,485.89 yuan/mt, while producing it from high-grade NPI costs about 13,753.73 yuan/mt. Due to slow Indonesian RKAB approval, there were concerns about nickel ore supply. As a result, the high-grade NPI prices were strong, with the SMM high-grade NPI index increasing by about 20.8 yuan/mt WoW. The cost of producing stainless steel from highgrade NPI rose by approximately 166 yuan/mt WoW.