[NPI Daily Review] Supply Tightness Strengthens Willingness to Hold Prices Firm, NPI Price Center Rises

Published: Jun 15, 2026 14:32

Save

[SMM Daily Review: Tight Supply Bolsters Willingness to Hold Prices Firm, NPI Price Center Rises] June 15 — SMM's high-grade NPI upstream sentiment factor was 2.74, up 0.01 MoM, and the downstream sentiment factor was 1.84, up 0.02 MoM.

SMM June 15 News,

June 15 News, the SMM high-grade NPI market sentiment index was 2.29, up 0.01 WoW. The upstream sentiment index for high-grade NPI was 2.74, up 0.01 WoW, and the downstream sentiment index was 1.84, up 0.02 WoW. Market sentiment recovered mildly today compared to last week, with NPI offers broadly firm. Many traders raised their premiums, and the price center edged up. Transactions in the market were still mainly based on an average futures price plus premium model, while spot cargo circulation tightened. Overall, with futures stabilizing and market sentiment improving, suppliers' willingness to hold prices firm strengthened, but the downstream procurement pace remained cautious, and high-priced cargoes still faced resistance in closing deals. In the short term, the market will likely continue the pattern of firm offers and a mild standoff in transactions.

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 for 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

Yunnan Energy to Invest in 25 MW Mugua Ping Wind Farm Project, Expected Completion in 10 Months

[Yunnan Energy Investment: Company Plans to Invest in the Mugua Ping Wind Farm Project] Yunnan Energy Investment announced that its controlling shareholder, Yunnan Energy Group, was the bid winner for the Fuyuan County Mugua Ping Wind Farm Project under Yunnan Province's third batch of new energy projects in 2025. In accordance with Yunnan Energy Group's overall strategy and the relevant requirements for the development and construction of Yunnan Province's third batch of new energy projects in 2025, the company will actively proceed with the construction of the Fuyuan County Mugua Ping Wind Farm Project. The project is expected to have a total installed capacity of 25 MW and a total construction period of 10 months.

Common.Time.hoursAgo

Indonesia MHP Nickel and Cobalt FOB Prices See Mixed Movements on June 16

According to SMM data, on June 16, the FOB price of Indonesia MHP nickel fell by $98/mt Ni from yesterday, and the FOB price of Indonesia MHP cobalt rose by $10/mt Co. The FOB price of Indonesia high-grade nickel matte fell by $99/mt Ni.

Common.Time.hoursAgo

[SMM Analysis] June Nickel Sulphate Market Analysis: Price Under Pressure from Rising Costs and Supply-Demand Mismatch

While upstream MHP payables stayed high, auxiliary material prices such as sulphur and sulphuric acid continued to climb, and downstream ternary production schedules remained at high levels, the performance of battery-grade nickel sulphate prices was not optimistic. SMM believes this was driven by multiple factors, including weakening cost support, front-loaded downstream stockpiling, increased import supplementation, and higher volumes of nickel sulphate converted from refined nickel.

Common.Time.hoursAgo