[Daily Review of NPI] High-grade NPI Prices Remain Stagnant, Awaiting Performance of End-use Consumption

Published: Aug 1, 2025 18:12

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[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.

SMM reported on August 1,

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. Supply side, nickel ore prices in the Philippines eased during the week, but it was difficult to change the current situation of losses for domestic smelters, with smelter production remaining low and stable on a WoW basis. On the consumption side, according to SMM, driven by macro sentiment, stainless steel prices have recovered somewhat, and plain carbon steel mill production has also seen a WoW recovery, but downstream enterprises' acceptance of prices remains limited. Overall, high-grade NPI prices are stagnant, awaiting guidance from end-use consumption in August.

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