SMM February 13 news,
On February 13, the average price of SMM 10-12% high-grade NPI was 1,051.5 yuan/mtu (ex-factory, tax included), flat MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.92, down 0.07 MoM; the upstream sentiment factor for high-grade NPI was 2.71, down 0.08 MoM; the downstream sentiment factor for high-grade NPI was 1.13, down 0.06 MoM. Supply side, upstream enterprises generally quoted flat or slightly raised prices, and with cost support, they held high expectations for the post-holiday market. Demand side, on the last trading day before the holiday, there was no procurement demand in the market, and a strong wait-and-see sentiment prevailed during the holiday. Overall, on the last trading day before the holiday, the market had no liquidity, and high-grade NPI prices remained flat.
![[SMM Analysis] Nickel Prices Swing as Indonesian Targets and Market Sentiment Drive Volatility](https://imgqn.smm.cn/usercenter/fzwTi20251217171733.jpg)
