The supply of high-grade NPI in the market is tight, and the market price is expected to remain stable in the short term. [NPI Daily Review]

SMM March 25 News,

      On March 25, the average price of SMM 8-12% high-grade NPI was 1,024 yuan/mtu (ex-factory, tax included), up 1.5 yuan/mtu from the previous working day. Supply side, domestically, smelters' raw material inventory remained low, shipments from the Philippines at the end of the rainy season still required time, and some smelters underwent production line maintenance, resulting in low production. In Indonesia, nickel ore mining and output fell short of expectations, some smelters' raw material inventory remained low, and some production lines in the main production areas operated at low capacity. Despite the release of new capacity, production growth was relatively limited. Demand side, spot stainless steel performance was weak, and the price of raw material stainless steel scrap decreased, restoring some economic advantages, putting pressure on high-grade NPI prices. However, from the cost and market circulation resources perspective, high-grade NPI is expected to remain stable in the short term.