SHANGHAI, Mar 15 (SMM) - Last week, prices of high-grade NPI declined by more than 70 yuan/mtu. Chinese high-grade NPI plants generally suffered losses based on the prices of raw materials purchased 25 days earlier. As for auxiliary materials, the prices of semi-coke purchased 25 days ago rose. Mines lowered the nickel ore quotes following the dropping NPI prices, which slightly eased the NPI plants' cost pressure. However, the market supply of NPI stood high and will grow further. If the mines do not make continuous price cuts in the future, a large number of NPI plants will suspend or reduce their production. SMM presumes that the nickel ore prices will trend lower in the short term to alleviate the NPI plants' cost pressure.
![[SMM Análisis de mediodía del níquel] Los precios del níquel repuntaron significativamente el 3 de septiembre. Los datos de empleo ADP de EE. UU. de agosto resultaron sorprendentemente débiles, lo que enfrió ligeramente las apuestas sobre una subida de tipos en septiembre.](https://imgqn.smm.cn/usercenter/qLeLR20251217171733.jpg)

![[SMM Análisis diario del sulfato de níquel] El 3 de septiembre, el mercado spot registró escasas operaciones y los precios del sulfato de níquel se mantuvieron estables](https://imgqn.smm.cn/usercenter/Btmsv20251217171733.jpg)
