[NPI Daily Review] High-Grade NPI May Still Have Downside Room Under the Dual Pressure of End-User Demand and Steel Scrap

Published: Mar 24, 2026 11:37

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[SMM Daily Review: High-Grade NPI May Still Have Downside Room Under the Dual Pressure of End-Users and Steel Scrap] March 24 News: SMM's upstream sentiment factor for high-grade NPI was 2.88, up 0.01 MoM, while the downstream sentiment factor for high-grade NPI was 1.59, down 0.04 MoM.

SMM, March 24:

March 24: SMM's high-grade NPI market sentiment factor stood at 2.23, down 0.02 MoM. The upstream sentiment factor for high-grade NPI was 2.88, up 0.01 MoM, while the downstream sentiment factor for high-grade NPI was 1.59, down 0.04 MoM. Supply side, the availability of steel scrap in the market increased significantly. Under the dual pressure from end-user demand and the economic advantage of steel scrap, upstream quotations for high-grade NPI gradually showed signs of weakening. Demand side, downstream steel mills increased the proportion of steel scrap used, with limited acceptance of high-grade NPI prices. Overall, high-grade NPI prices remained in back-and-forth negotiations between upstream and downstream, and there may still be downside room in the near term.

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