【SMM Nickel Flash】Indonesian Hydrometallurgy Project to Cut MHP Output by 30% in September Amid Low Nickel Prices

【SMM Nickel Flash】August 28 — Price gaps across nickel‑point grades of NPI keep narrowing, and the premium spread between high‑ and low‑nickel‑point materials has been squeezed. Spot transactions remain sluggish. Some suppliers offer cargoes at lower levels yet face slow sales, with limited volumes of physical deals closed. Certain sellers still hold relatively high asking prices, creating a notable mismatch against price levels acceptable to downstream buyers.

[SMM Nickel Flash] On August 28, the SMM high-grade NPI market sentiment factor was 1.82, down 0.04 MoM; the upstream sentiment factor for high-grade NPI was 1.98, down 0.04 MoM; and the downstream sentiment factor for high-grade NPI was 1.67, down 0.02 MoM. Weakness in the high-grade NPI market persisted as port inventory rose again, and coupled with the softer stainless steel market, bearish market sentiment deepened further.