Nickel Ore Prices Fluctuates This Week, No Market for NPI?

[SMM Daily Review: High-grade NPI Prices Remain Stagnant, Awaiting Performance of End-use Consumption] On August 1, the average price of SMM 10-12% high-grade NPI was 912 yuan/mtu (ex-factory, tax included), unchanged from the previous working day.

Affected by the pullback in nickel prices, the prices of nickel intermediate products have declined.

Philippine nickel ore prices remained stable this week, but there is still a fear of a downward trend in the future market. Indonesian nickel ore prices fluctuated rangebound, with strong wait-and-see sentiment for saprolite ore and weak pressure on limonite ore.

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 $12,496/mt Ni.

On August 1, the SMM battery-grade nickel sulphate index price was 27,132 yuan/mt, with the quotation range for battery-grade nickel sulphate being 27,130-27,610 yuan/mt, and the average price remaining unchanged from yesterday.

[SMM Daily Review: Traders and upstream suppliers refuse to budge on prices when shipping goods; high-grade NPI has a price but no market] July 31 news: The average price of SMM 8-12% high-grade NPI is 912.5 yuan/mtu (ex-factory, tax included), unchanged from the previous working day.

According to SMM data, nickel sulphate production in July will reach 29,100 mt in metal content (equivalent to 132,200 mt), up 17.30% MoM and 4.77% YoY.

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 $12,585/mt Ni.