SMM 10-12% high-grade NPI average price was down 15 yuan/mtu MoM

Published: Feb 2, 2026 21:00

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[SMM Nickel Flash] On February 2, the SMM 10-12% high-grade NPI average price was 1,039 yuan/mtu (ex-factory, tax included), down 15 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.04, down 0.11 MoM; the upstream sentiment factor for high-grade NPI was 2.73, down 0.17 MoM; and the downstream sentiment factor for high-grade NPI was 1.34, down 0.05 MoM.

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