SHANGHAI, Sep 27 (SMM) – The NPI profits based on nickel ore purchased 25 days earlier changed little last week, according to the latest SMM survey. The profit under the RKEF process has rebounded slightly, and the profit of the EAF process has remained flat.
The output of stainless steel and NPI in many regions has been reduced amid the production restriction policy, and the output cut for high-grade NPI topped expectations. NPI plants raised their quotes. The acceptable prices by steel mills have risen. The higher NPI prices have increased the profits at NPI plants.
However, the prices of nickel ore remain high. This, combined with higher coke prices due to short supply, increased NPI cost.
The NPI prices will remain high in the short term and NPI costs will stand at high levels as well. Therefore, the profit will remain at the current level.
![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)
