SMM Nickel Flash: High-Grade NPI Prices Rise in China, Fall in Indonesia Amid Market Pressure

Published: Mar 20, 2026 15:26

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[SMM Nickel Flash] The average price of SMM 10-12% high-grade NPI rose WoW by 0.3 yuan/nickel unit to 1,090.2 yuan/nickel unit (ex-factory, tax included), while the average price of the Indonesian NPI FOB index fell WoW by $0.65/nickel unit to $138.28/nickel unit. This week, the market saw successive declines in stainless steel finished product quotations and nickel prices, and high-grade NPI came under pressure from low-priced sell-offs and panic sentiment, entering a phase of decline.

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