Spot transactions picked up, ferronickel prices remained stable [Nickel Pig Iron Daily Review]

Published: Feb 29, 2024 18:43

Source: SMM

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On February 28, the average price of SMM8-12% high nickel pig iron was 960 yuan/nickel point (ex-factory tax included), which was flat compared with the previous working day.

SMM, February 28, February 28, SMM8-12% high nickel pig iron average price of 960 yuan/nickel point (ex-factory tax included), compared with the previous working day The price was flat. From a fundamental point of view, due to the impact of Indonesia's RKAB policy, nickel ore prices have rebounded in the month, and the rising price of raw materials has increased the cost of ferronickel. Global ferronickel production is expected to decline in February in anticipation of production cuts by Indonesian and global iron mills. On the demand side, it is currently in the off-season of the stainless steel industry, coupled with the decrease in domestic and Indonesian production, the demand for ferronickel is weakening. At present, both sides of the supply and demand sides of the ferronickel market are weak, but due to the failure of the approval process of Indonesia's RKAB to meet expectations, it may support the price of ferronickel emotionally.

Nickel Market review NPI New Energy

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