NPI cost based on nickel ore inventory purchased 25 days earlier fell slightly in May

SHANGHAI, Jun 23 (SMM) — Monthly average actual cash costs stood at $15,103/mt (Ni content) for RKEF high-grade NPI producers in Fujian in May, $15,841/mt (Ni content) in Jiangsu, and $14,096/mt (Ni content) in Shandong. Actual cash cost for EAF high-grade NPI producers was $17,226/mt (Ni content) in Inner Mongolia and $16,860/mt (Ni content) in Jiangsu. Prices of raw material inventory dropped significantly in May, lowering the high-end of costs. However, prices of auxiliary materials including coal and coke rose in May, limiting the overall cost decline. Profits are likely to shrink in June as ore prices follow NPI prices up.

Profits across high-grade NPI producers