SMM 10-12% High-Grade NPI and Indonesian NPI FOB Prices Drop, Market Sees Intensified Tug-of-War

Published: Jul 10, 2026 18:11

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[SMM Nickel Flash] The average price of SMM 10-12% high-grade NPI fell by 1.2 yuan/nickel unit WoW to 1,132.5 yuan/nickel unit (ex-factory, tax included), while the average price of the Indonesian NPI FOB index dropped by $0.46/nickel unit WoW to $146.23/nickel unit. This week, spot high-grade NPI remained on a downward trajectory, with the market’s tug-of-war between longs and shorts intensifying.

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