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The High-Grade NPI Market Is Active, Prices Expected to Fluctuate Upward in the Short Term [NPI Daily Review]

  • Feb 10, 2025, at 10:44 am
[SMM Daily Review: High-Grade NPI Market Active, Prices Expected to Fluctuate Upward in the Short Term] February 10—The SMM 8-12% high-grade NPI average price was 951 yuan/mtu (ex-factory, tax included), up 4 yuan/mtu compared to the previous working day...
On February 10, SMM reported that the average price of 8-12% high-grade NPI was 951 yuan/mtu (ex-factory, tax included), up by 4 yuan/mtu compared to the previous working day. Supply side, domestically, Philippine nickel ore prices remained stable, while domestic smelters continued to operate at a loss, with production slightly recovering after seasonal maintenance. In Indonesia, overall production decreased in February, coupled with adjustments in production in a major region, leading to a slight decline in total output. Demand side, the stainless steel market has not fully recovered after the Chinese New Year holiday, with poor stainless steel sales and sluggish sentiment among steel mills for raw material procurement. Some traders held strong expectations for the market outlook, with active inquiries and robust market sentiment. Amid tightening availability of marketable resources, high-grade NPI prices are expected to fluctuate upward in the short term.
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