Prices of High-grade NPI Decline on Falling Nickel Ore Prices

Published: Mar 15, 2023 10:19

Source: SMM

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Last week, prices of high-grade NPI declined by more than 70 yuan/mtu.

SHANGHAI, Mar 15 (SMM) - Last week, prices of high-grade NPI declined by more than 70 yuan/mtu. Chinese high-grade NPI plants generally suffered losses based on the prices of raw materials purchased 25 days earlier. As for auxiliary materials, the prices of semi-coke purchased 25 days ago rose. Mines lowered the nickel ore quotes following the dropping NPI prices, which slightly eased the NPI plants' cost pressure. However, the market supply of NPI stood high and will grow further. If the mines do not make continuous price cuts in the future, a large number of NPI plants will suspend or reduce their production. SMM presumes that the nickel ore prices will trend lower in the short term to alleviate the NPI plants' cost pressure.

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