SMM Announcement: The Publication of High-Grade NPI Prices by Region Will Soon Be Discontinued

Dear Users,

Greetings!

Previously, SMM conducted a market consultation on high-grade NPI prices and made the following decision: Announcement on the Addition and Discontinuation of SMM High-Grade NPI Price Points | SMM

We would like to provide the following reminder to the market:

SMM will make the final updates to the following price points ("8-12% high-grade NPI (ex-factory price - Inner Mongolia)", "8-12% high-grade NPI (ex-factory price - Jiangsu)", "8-12% high-grade NPI (ex-factory price - Shandong)", and "8-12% high-grade NPI (ex-factory price - Liaoning)") on March 31, 2025 (the last working day of this month), after which the updates for these four price points will be discontinued.

In addition, the updates on "8-12% high-grade NPI (ex-factory price)" and "10-14% Indonesian high-grade NPI (port price, VAT-included)" will cease on December 31, 2025.

Regarding the selection of new pricing benchmarks that upstream and downstream enterprises are concerned about, SMM advise upstream and downstream enterprises to choose the corresponding price benchmarks based on the grade and origin of their products.

In case of uncertain pricing benchmark, enterprises are advised to refer to 10-12% high-grade NPI (ex-factory price) and 10-12% Indonesian high-grade NPI prices (port price, VAT-included) as the current market is primarily focused on transactions of high-grade NPI with a grade of 10-12%, including both domestic NPI and Indonesian NPI.
SMM Nickel Research Team

Cong Wang Contact: wangcong@smm.cn

Disheng Feng Contact: fengdisheng@smm.cn

Menghua Jin Contact: jinmenghua@smm.cn

March 11, 2025