This week, the average price of SMM 8-12% high-grade NPI was 942.3 yuan/mtu (ex-factory price, tax included), up 12.3 yuan/mtu MoM. However, the overall market price of high-grade NPI showed a weakening trend this week.

[SMM Daily Review: Market Transaction Prices Further Decline, Short-Term Nickel Pig Iron Prices May Be in the Doldrums] On June 13, the average price of SMM 8-12% high-grade NPI was 933.5 yuan/mtu (ex-factory, tax included), down 5.5 yuan/mtu from the previous working day...

This week, Indonesian nickel ore limonite prices saw an increase. NPI prices still faces pressure from stainless steel market

Philippine nickel ore prices remain high, forcing domestic enterprises to choose between purchasing at high prices or cutting production. Indonesian limonite ore prices strengthen again.

As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) ranges from 83.5% to 84%, and the FOB price of Indonesian MHP is $12,639/mt Ni.

On June 13, the SMM battery-grade nickel sulphate index price was 27,583 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,580-28,050 yuan/mt, and the average price remained stable WoW.

On June 4, Meidy Katrin Lengkey, Secretary General of the Indonesia Nickel Miners Association (APNI), stated that APNI had proposed the establishment of an Indonesian metal exchange, which had already received approval from the Indonesian government.

[6.13 Morning Meeting Summary] Despite the widespread losses faced by enterprises, with some steel mills having implemented production cuts, the current supply remains at historically high levels due to the large production base in the early stage, and the contradiction of oversupply in the market is prominent. Stainless steel mills and agents are facing a sharp increase in shipping pressure, with market pessimism spreading. Traders are scrambling to ship goods, driving stainless steel quotes to continuously decline.