The progress of the recall incident this week is as follows:

This week, the average price of SMM8-12% high-nickel pig iron was 953.3 yuan per nickel point (including tax, ex-factory), marking an increase of 6 yuan per nickel point compared to last week. Overall, the price of high-nickel pig iron has shown a slight upward trend this week.

The sharp fluctuations in nickel prices in May were mainly due to macro disturbances. After excluding abnormal disturbances in the candlestick, SHFE nickel futures prices mainly showed a slow decline under the dual pressures of "weak fundamentals" and "high inventory".

[SMM Daily Review: Market Sentiment Leans Towards Wait-and-See, Short-Term High-Grade NPI Prices Remain Stable] On May 30, the average price of SMM 8-12% high-grade NPI was 954 yuan/mtu (ex-factory, tax included), unchanged from the previous working day...

Philippine nickel ore prices remain firm due to the impact of rainfall and multiple factors in Indonesia. Indonesian ore premiums remained stable in June, while Indonesian high-grade NPI producers continued to face inverted margins.

In May 2025, SMM's nickel sulphate production is expected to reach approximately 25,100 mt in metal content, corresponding to around 114,300 mt in physical terms, down approximately 2.97% MoM and 23.17% YoY.

This week, Indonesian nickel ore prices have remained stable. NPI prices showed a slight upward trend during this week