SMM: High-Grade NPI Prices Rise to 1,077.5 Yuan/mtu, Market Sentiment Improves

Published: Feb 26, 2026 18:39

Save

[SMM Nickel Flash] On February 26, SMM reported that the average price of 10-12% high-grade NPI was 1,077.5 yuan/mtu (ex-factory, tax included), up 7.5 yuan/mtu MoM from the previous trading day. The market sentiment factor for high-grade NPI was 2.00, up 0.03 MoM, the upstream sentiment factor was 2.82, up 0.08 MoM, and the downstream sentiment factor was 1.19, flat MoM.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.hoursAgo

High-grade NPI Prices Rise Amid Strong Upstream Support and Weak Downstream Demand

[ SMM High-grade NPI ] February 26 news, Supply side, upstream quotations remain firm amid cost support and bullish expectations, continuing to actively hold prices firm. Demand side, downstream steel mills have not yet released just-in-time procurement, and no concluded deals have been observed in the market. Overall, there is a clear divergence between upstream and downstream, with market trading activity yet to recover; however, amid rising upstream costs and cargo holdbacks, the price center of high-grade NPI continues to rise.

Common.Time.hoursAgo

[SMM Nickel Flash] Huafei Clarifies Fire Incident: No Casualties, Ops Normal

[SMM Nickel Flash] Huafei Clarifies Fire Incident: No Casualties, Ops Normal Huafei Nickel & Cobalt issued a statement clarifying the Feb 25 fire at its Indonesia Weda Bay Industrial Park (IWIP) plant. Cause: sudden heavy rain caused water to seep into quicklime warehouse, triggering exothermic reaction that ignited bags; flames appeared more intense due to darkness. Key facts: no casualties, minimal damage, production resumed, area safe per local police. Fire team extinguished quickly. Huafei apologized, vowed stricter procedures, thanked public, and affirmed commitment to community & economy.

Common.Time.hoursAgo

Data: SHFE, DCE market movement (Feb 26)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 26 Feb , 2026

Common.Time.hoursAgo