SHANGHAI, Sep 12 (SMM) – Domestic NPI output in August was 34,700 mt in Ni content, and hiked by 4.32% MoM to 799,000 mt in physical content and 3.99% YoY in metal content. NPI prices moved upwards in August as Indonesia delayed issuance of nickel ore quotas. Based on the profit calculation of nickel ore 25 days ago, profit of NPI gradually expanded. Therefore, NPI production in August inched up. In terms of grades, August saw an increase of 5.33% MoM in high-grade NPI output at 27,400 mt in metal content and 3.99% in low-grade one at 7,300 mt in metal content. More nickel ore arrived at Chinese ports in August, most of which were used to produce low NPI. Therefore, NPI output increased in late August, meeting expectations.
It is estimated that the national NPI output in September will be around 34,700 in Ni content, little changed MoM. According to SMM research, currently, a peak season of stainless steel eliminated negative impact of the delayed issuance of nickel ore quotas on NPI output.


![[SMM 니켈 플래시 뉴스] 일일 업데이트 — 2026년 9월 2일](https://imgqn.smm.cn/usercenter/qLeLR20251217171733.jpg)
