SMM reported on February 13 that
on February 13, the SMM 8-12% high-grade NPI average price was 960.5 yuan/mtu (ex-factory, tax included), up by 4 yuan/mtu from the previous working day. Supply side, domestically, Philippine nickel ore prices remained stable, while domestic smelters continued to operate at a loss, with production slightly recovering after seasonal maintenance. In Indonesia, overall production decreased in February, coupled with adjustments in production in a major region, leading to a slight decline in total output. Demand side, the stainless steel market has not fully recovered after the Chinese New Year holiday, with poor stainless steel sales and sluggish raw material procurement sentiment among steel mills. Some traders held strong expectations for the market outlook, with active inquiries and robust market sentiment. Amid tightening availability of marketable resources, high-grade NPI prices are expected to fluctuate upward in the short term.
![[SMM Weekly Review] Los precios del níquel se consolidan en máximos, la presión macroeconómica y las expectativas de recortes de producción se contrarrestan entre sí](https://imgqn.smm.cn/usercenter/WYeHX20251217171733.jpg)
![[Análisis de SMM] Las ofertas de acero inoxidable fuera de China se mantienen mientras el NPI se afianza y Vietnam apunta al laminado en frío indonesio](https://imgqn.smm.cn/usercenter/Btmsv20251217171733.jpg)