Most of NIC’s product is nickel pig iron (NPI) and the contract prices are linked to Chinese domestic NPI pricing: https://www.metal.com/Nickel/201106150005
The LME price is useful for their nickel matte, ore sales from the mine, and the MHP produced by HNC (NIC owns 10%).
Keep in mind that NIC’s product pricing is not exactly the same as the above, but they can be useful to understand the direction of prices during a quarter.
Ann: 2023 Annual Results Presentation, page-11
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