High-Grade NPI Prices Rise, Discount to Refined Nickel Widens Post-Holiday

Published: Feb 28, 2026 12:55

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[SMM Nickel Flash] After the holiday, refined nickel prices rose MoM, and high-grade NPI prices also increased MoM. The average discount of high-grade NPI to refined nickel widened to 357.88 yuan/mtu. High-grade NPI prices are expected to have further upside room next week, while refined nickel prices are also supported. The average discount of high-grade NPI to refined nickel is projected to continue widening.

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