Prices of High-Grade NPI Stop Falling amid the Surging NPI Prices and the Rebound in the SS Futures Prices

Published: Dec 28, 2022 17:41

Source: SMM

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On December 28, the SMM average price of 8-12% high-grade NPI was 1,360 yuan/mtu (ex-factory, tax included).

SHANGHAI, Dec 28 (SMM) - On December 28, the SMM average price of 8-12% high-grade NPI was 1,360 yuan/mtu (ex-factory, tax included), up 5 yuan/mtu from the previous trading day. In terms of supply, due to the large number of transactions in the early stage, orders for Indonesia NPI have basically been signed. Spot NPI supply was relatively tight, and only some traders who are optimistic about the NPI prices in 2023 made some restocking. The NPI plants held their prices firm amid the soaring nickel prices and the rebound in the SS futures prices. On the demand side, some large steel mills made some inquiries approaching another round of intensive restocking. And the mills had to raise their purchase prices due to the supply tightness of NPI. SMM expects that the NPI prices will fluctuate with some ups in the short term.

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