SMM reported on July 30,
On July 30, the average price of SMM 8-12% high-grade NPI was 912.5 yuan/mtu (ex-factory, tax included), up 0.5 yuan/mtu from the previous working day. Supply side, upstream nickel pig iron plants were bullish, as the current price remained below the cost line of nickel pig iron plants, resulting in low willingness to sell. On the consumption side, downstream large enterprises began to offer quotes, but there were significant price discrepancies. Currently, market transactions were still mainly based on average prices, with fixed-price transactions mostly involving small volumes from traders or downstream small enterprises. Overall, the high-grade NPI market remained in a state of "high prices but no transactions," with the market awaiting guidance from end-use consumption in August.
