Download our mobile app to 
your devices
Android devicesiOS devices
Holiday Pricing ScheduleFREE TRIALCompliance CentreAbout UsContact Us
MarketsNews
Non-ferrous
Non-ferrous
Base Metals
Rare Earth
Scrap Metals
Minor Metals
Precious Metals
Ferrous Metals
Ferrous Metals
Iron Ore IndexIron Ore PriceFinished SteelCokeCoalPig IronSilicon Steel
New Energy
New Energy
SolarLithiumCobaltLithium Battery Cathode Precursor and MaterialAnode MaterialsDiaphragmElectrolyteChemical CompoundLithium-ion BatteryUsed Lithium-ion BatterySodium-ion BatteryHydrogen EnergyEnergy Storage
DashboardDatabaseProReportsEventsCar Insight
Home / Metal News / Nickel Ore & NPI Price Review and Forecast

Nickel Ore & NPI Price Review and Forecast

iconApr 2, 2024 23:45
Source:SMM
Last week, the average price of Ni 1.5% ore was $46/wmt on a CIF basis, unchanged WoW. The rainy season is nearly over, leading to increased stocks at ports last week. Nickel ore transactions in the Philippines will resume this week. In Indonesia, prices for 1.2% laterite nickel ore were at $21.3- $25.3/wmt. Similarly, prices for 1.6% laterite nickel ore were at $37.3-$42.3/wmt. Nickel ore prices stayed high following a big rise. Despite releasing 152 million wmt quotas, they haven't fully hit the market yet.

Nickel Ore

Last week, the average price of Ni 1.5% ore was $46/wmt on a CIF basis, unchanged WoW. The rainy season is nearly over, leading to increased stocks at ports last week. Nickel ore transactions in the Philippines will resume this week. In Indonesia, prices for 1.2% laterite nickel ore were at $21.3- $25.3/wmt. Similarly, prices for 1.6% laterite nickel ore were at $37.3-$42.3/wmt. Nickel ore prices stayed high following a big rise. Despite releasing 152 million wmt quotas, they haven't fully hit the market yet.


NPI


As of last Friday, the average price of 8-12% high-grade NPI was 934.7 yuan/mtu (ex-factory, including tax), down 12.7 yuan/mtu WoW. Supply side, even though the approved nickel ore quota is increasing, it still takes time for the nickel ore to move from mines to smelters. As a result, NPI production is expected to stay low in March. Stainless steel demand was weak, which isn't boosting the high-grade NPI prices. Weak stainless steel demand means inventory accumulation and lower NPI prices.


The cost efficiency of high-grade NPI widened last week

Currently, the cost of producing stainless steel from stainless steel scrap is around 13,772.37 yuan/mt, down 230 yuan/mt WoW, while producing it from high-grade NPI costs about 13,620.08 yuan/mt, down 110 yuan/mt WoW. The drop in stainless steel prices made steel mills less eager to buy raw materials, lowering prices for stainless steel scrap and high-grade NPI. As stainless steel prices stabilize, stainless steel scrap prices slightly rose. In Foshan, where stainless steel scrap is scarce, steel mills gave a 50 yuan/mt discount on purchases on March 28. Despite this, the market remains stable. Eased nickel ore shortages, along with falling stainless steel and nickel prices caused a drop in high-grade NPI prices to920 yuan/mtu, setting a bearish tone for April. In summary, the stainless steel market is bearish, with raw material prices hard to sustain. Limited stainless steel scrap price drops are expected due to slightly tight supply, while high-grade NPI prices may inch lower amid persistent supply surplus. High-grade NPI will likely maintain and expand its cost efficiency.

Please do not hesitate to contact Jean at jeantang@smm.cn or 86-19946295759 if you have any question or inquiry.

Nickel

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All
MOST POPULAR
1.Benchmarking Analysis Of the Development  Direction Of MHP And Nickel Matte
2.Technical Due Diligence Survey Of Nickel Product Unit
3.Long-term Price Forecast Of Nickel Industry
4.Feasibility Study Of Nickel Industry Investment
5.Indonesia Ni Industry Analysis
Shanghai Metals Market
Privacy PolicyCompliance CentreSMM Credit ServiceContact UsAbout UsTerms & ConditionsSitemapHoliday Pricing Schedule
Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.
Drop us a line
service.en@smm.cn
How can we help you?
+86 021 5155-0306
Live chat via WhatsApp
Copyright © 2024 SMM Information & Technology Co., Ltd. All rights reserved.