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Home / Metal News / High-Grade NPI Cost Support Remains Firm, Limited Downside Room Expected in the Short Term [NPI Daily Review]

High-Grade NPI Cost Support Remains Firm, Limited Downside Room Expected in the Short Term [NPI Daily Review]

iconJan 6, 2025 22:28
Source:SMM
[SMM Daily Review: High-Grade NPI Costs Remain Firm, Limited Downside Room Expected in the Short Term] On January 6, SMM 8-12% high-grade NPI average price was 935 yuan/mtu (ex-factory, tax included), unchanged from the previous working day...
SMM, January 6— January 6—The SMM 8-12% high-grade NPI average price stood at 935 yuan/mtu (ex-factory, tax included), unchanged from the previous working day. Supply side, domestically, high-grade NPI prices fluctuated downward with a weak trend. Amid widening losses at traditional domestic smelters, production is expected to decline. In Indonesia, NPI smelters currently hold relatively sufficient raw material inventories. Coupled with some smelters maintaining partial profitability, demand for high-grade nickel matte remains weak, and the phenomenon of converting high-grade nickel matte to high-grade NPI persists. Indonesian production is expected to maintain growth as anticipated. Demand side, stainless steel mills have entered a seasonal maintenance period, leading to a decline in production. Steel mills' demand for NPI has decreased MoM, and top-tier enterprises have already signed a large number of long-term contracts for raw materials. Spot order procurement demand in the market has weakened. However, NPI costs remain relatively firm, and high-grade NPI prices are expected to operate stably with a weak trend. 》Subscribe to view historical SMM metal spot prices

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