High-Grade NPI Prices Rise Despite Weak Demand, Supported by High Costs and Inventory Holding Costs

Published: Mar 13, 2026 17:52

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[SMM Nickel Flash] Although end-user demand provided weak support, supported by costs, the price center of high-grade NPI continued to move upward and only came under brief pressure after a sharp plunge in the futures market. Looking ahead, smelter production costs and traders' inventory holding costs remain high, and high-grade NPI prices are expected to stay supported.

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