This week's average price for SMM 8-12% high-grade nickel pig iron (NPI) reached 947.3 RMB per nickel point (ex-factory, including tax), an increase of 5.4 RMB per nickel point compared to last week. This indicates a stabilization and recovery trend in the high-grade NPI prices following recent fluctuations.

Philippine nickel ore is affected by multiple factors including precipitation and Indonesian factors, with limited downside room in the short term. Indonesian ore prices held steady this week, with the market awaiting the next round of price quotes and transactions.

SMM prices of Indonesian nickel ore have remained generally stable this week. NPI prices showed a rebound trend during this week

[SMM Daily Review: Market Transaction Prices Rise, Short-Term Prices May Recover Upward] On May 23, the average price of SMM 8-12% high-grade NPI was 951 yuan/mtu (ex-factory, tax included), up 2 yuan/mtu from the previous working day...

On May 23, the SMM battery-grade nickel sulphate index price was 27,803 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,760-28,270 yuan/mt, and the average price remained stable compared to the previous day.

As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 83.5%-84%, and the FOB price of Indonesian MHP is $12,756/mt Ni.

[5.23 Morning Meeting Minutes] Cost side, LME nickel has returned to fundamentals and is in the doldrums, leading to a slight decline in the production costs of nickel salt smelters. Demand side, the overall demand for nickel salt in June is expected to strengthen. Recently, the activity of precursor plants inquiring about nickel salt prices has significantly increased, and their purchase willingness has strengthened. Supply side, some nickel salt smelters have maintained stable quotes, while others have raised their quote coefficients due to increased demand and limited raw material inventory.

[SMM Daily Review: Market Transaction Atmosphere Warms Up, High-Grade NPI Prices Stabilize and Rise] On May 22, the average price of SMM 8-12% high-grade NPI was 949 yuan/mtu (ex-factory, tax included), up 2.5 yuan/mtu from the previous working day...

Downstream demand picks up, nickel salt prices rise