Announcement on the Addition and Discontinuation of SMM High-Grade NPI Price Points  

Dear Users,

In recent years, the nickel and stainless steel industry chain has undergone continuous evolution. During SMM's ongoing research on the nickel and stainless steel industry chain, it has been observed that the price differences between grades of high-grade NPI, a key raw material for stainless steel, have become more pronounced. To reduce the trading risks and costs for upstream and downstream clients using SMM high-grade NPI prices, and after a period of market consultation and evaluation, SMM has decided to adapt to market development needs by adding new SMM high-grade NPI price points and discontinuing some existing price points as appropriate.

The specific adjustments are as follows:

1. Additions: "8-10% High-Grade NPI (Ex-Factory Price)", "10-12% High-Grade NPI (Ex-Factory Price)", "10-12% Indonesian High-Grade NPI (CIF, Tax Included)", "12-14% Indonesian High-Grade NPI (CIF, Tax Included)".

The launch date is January 2, 2025 (working day).

2. Discontinuations: "8-12% High-Grade NPI (Ex-Factory Price - Inner Mongolia)", "8-10% High-Grade NPI (Ex-Factory Price - Jiangsu)", "8-10% High-Grade NPI (Ex-Factory Price - Shandong)", "8-10% High-Grade NPI (Ex-Factory Price - Liaoning)".

The discontinuation date is March 31, 2025 (working day).

3. Discontinuations: "8-12% High-Grade NPI (Ex-Factory Price)", "10-14% Indonesian High-Grade NPI (CIF, Tax Included)".

The discontinuation date is December 31, 2025 (working day).

SMM Nickel Research Team
Contact: Cong Wang wangcong@smm.cn
Contact: Menghua Jin jinmenghua@smm.cn
December 26, 2024