[SMM Analysis Flash: Indonesian NPI Exports to Rise 13% YoY in 2024, Overseas Export Scope May Continue to Expand in 2025] According to the Directorate General of Customs and Excise, the total export volume of Indonesian NPI in 2024, January-December, is approximately 9.6422 million mt, up about 13% YoY. Exports to China totaled approximately 9.1563 million mt, accounting for 94.96% of Indonesia's annual exports, up about 9.4% YoY...

[SMM Analysis Flash: Indonesian NPI Exports to Rise by 13% YoY in 2024, Overseas Export Scope May Continue to Expand in 2025] According to the Directorate General of Customs and Excise, Indonesia's total NPI exports in January-December 2024 were approximately 9.6422 million mt, up by about 13% YoY. Exports to China totaled approximately 9.1563 million mt, accounting for 94.96% of Indonesia's annual exports, up by about 9.4% YoY...

During the week, the SMM 8-12% NPI weekly average price was 987.1 yuan/mtu (ex-factory, tax included), up 14.3 yuan/mtu from a week ago. The Indonesian NPI FOB index rose 1.46% MoM to $1.7/mtu, with the price increase of NPI expanding this week. Supply side, domestically, current NPI production is running at a low level......

According to customs data, in June, China's NPI+ FeNi imports reached 694,100 mt, up 6.5% MoM and 15.1% YoY.

On June 26, the price of SMM 8%-12% high-grade NPI averaged 968.5 yuan/mtu (ex-factory, tax included), down 3 yuan/mtu from the previous working day.

According to customs data, China's NPI+FeNi imports totalled 651,500 mt in physical content, down 9.96% MoM and 1.86% YoY.

China’s imports of FeNi and NPI were 633,200 mt in physical content in March, down 14.0% MoM

Last week, SMM 8-12% high-grade NPI prices averaged 969.5 yuan/mtu (ex-factory, including tax), up 5.79 yuan/mtu WoW. NPI prices inched upward last week...

According to customs data, China’s imports of FeNi and NPI were 633,200 mt in physical content in March (down 14.0% MoM, but up 20.4% YoY), or 87,000 mt in nickel content (down 7.2% MoM, but up 10.8% YoY).

With the gradual increase of Indonesian NPI participation in the NPI trading market, the proportion of Indonesian NPI in the Chinese market is also continuously increasing. To adapt to market changes, after a period of sedimentation and market research, SMM plans to add the Indonesian NPI FOB index starting from December 1, 2023.