SHANGHAI, Mar 20 (SMM) - The NPI costs based on nickel ore purchased 25 days earlier plunged last week. Semi-coke prices also dropped. Besides, the ex-factory price of NPI slumped to 1,200 yuan/mtu, deepening the NPI plants' losses. CIF prices of spot nickel ore all fell by about $8-10/wmt since the NPI plants gained low profit margins from the crashing NPI prices in the past two weeks. With the reduction in nickel ore prices, the profits of NPI plants will gradually pick up.
![[Análisis de SMM] La demanda de compras externas downstream es débil; los precios de las sales de níquel cayeron esta semana](https://imgqn.smm.cn/usercenter/KFwsY20251217171734.jpg)
![[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)

