High-Grade NPI Prices Surge Amid Upward Trends and Robust Demand

Publicado: Aug 4, 2024 12:25
Fuente: SMM
This week, the average price of domestic high-grade NPI exceeded 1,000 yuan/mtu, up 12.9 yuan/mtu MoM, while the Indonesian NPI index rose by $2.1/mtu. Domestic smelters have increased their production enthusiasm, and short-term output is expected to rise. Tight supply of Indonesian ore has pushed up domestic trade premiums. Downstream stainless steel plants and traders are actively inquiring, and the upcoming peak season of "Golden September and Silver October" is expected to boost production plans, driving transaction prices to new highs. NPI costs remain firm, and short-term price expectations are strong. The discount of high-grade NPI to refined nickel has widened. This week, NPI prices increased, and it is expected that NPI will remain strong in the short term, while refined nickel prices may rise due to cost support and a recovery in downstream demand.

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This week, the average price of domestic high-grade NPI exceeded 1,000 - Shanghai Metals Market (SMM)