Domestic High-Grade NPI Costs Drop, but Profit Margins Squeeze Amid Falling Selling Prices

Published: Sep 11, 2026 18:00 (GMT+8)

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[SMM Nickel Flash] Domestic high-grade NPI production costs declined this week. Lower Philippine nickel ore prices, coupled with a pullback in coke prices, reduced smelting raw material costs. However, NPI selling prices fell significantly over the same period, dragging on profitability and narrowing profit margins for domestic smelters.

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