April 16 SMM High Nickel Pig Iron Price

[SMM Nickel Flash] Supply side, cost support was evident, and most pig iron plants kept quotations at high levels, but under pressure from steel scrap and the end-user market, some traders' quotations came under pressure. Demand side, high-content NPI remained in short supply, and premiums between grades were obvious. Overall, amid back-and-forth negotiations between upstream and downstream, high-grade NPI prices were flat.

[SMM Nickel Flash] Iranian Parliament Approves Bill to Levy Transit Fees on the Strait of Hormuz, Payable in Iran’s Local Currency According to CCTV News, on March 30 local time, the National Security Committee of the Iranian Parliament passed a bill proposing to charge fees to vessels transiting the Strait of Hormuz. The plan includes implementing financial arrangements and a fee-charging system in Iranian rials; prohibiting US and Israeli vessels from passing through the Strait of Hormuz; maintaining Iran and its armed forces’ dominant position; barring passage by countries participating in unilateral sanctions against Iran; and cooperating with Oman to formulate the relevant legal framework.

[SMM Daily Review: Back-and-Forth Negotiations Between Upstream and Downstream in High-Grade NPI, Prices Held Flat While Grade Premiums Remained High] March 31 News: SMM's upstream sentiment factor for high-grade NPI was 2.78, down 0.05 MoM, while the downstream sentiment factor for high-grade NPI was 1.54, flat MoM.