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Home / Metal News / NPI Prices Rose Again amid the Tight Supply of Spot Indonesia NPI

NPI Prices Rose Again amid the Tight Supply of Spot Indonesia NPI

Oct 13, 2022 17:17

Source:SMM

On October 13, the NPI market inquiries were active.

SHANGHAI, Oct 13 (SMM) - On October 13, the market inquiries were active. The SMM average price of 8-12% high-grade NPI was 1,340 yuan/mtu (ex-factory, tax included), up 5 yuan/mt from the previous trading day. Nickel ore prices grew today because of the rainy season in the Philippines and the supply tightness. Besides, NPI plants generally get low in-plant inventories of ores, hence the NPI prices stood firm with the cost support. The current supply of spot Indonesia NPI remains relatively tight, while the steel mills increase their production, so the NPI supply is moving towards a tight balance. In addition, the pandemic outbreak hinders the logistics in some areas, thus there may be delays in the transportation of NPI. SMM believes that the NPI prices will rise slightly in the short term.

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