High-nickel pig iron market differentiation, premium for high-grade sources widens

2026-04-11 00:47:33

From the supply side, smelter quotes remain firm but transactions are limited, with market circulating spot goods mainly from traders’ previous or arbitrage sources.
From the demand side, terminal consumption is clearly suppressed, with steel mills mainly purchasing low-priced goods from some traders.
Overall, the market structure is distinctly differentiated, with the mainstream transaction price center for steel mills still operating below 1100 yuan/nickel point, but high-grade sources with nickel content of 12% and above 14% are significantly scarce, with the premium space continuously widening.
Recent high-priced transactions are also mostly concentrated on high-nickel point sources.
(Shanghai Nonferrous Metals Network)

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