SMM High-Grade NPI Market Sentiment Declines, Spot Supply Tight and Transactions Limited

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 13 Jul , 2026

[SMM Nickel Flash] July 13 news: Supply side, some mainstream supply sources are holding firm on high price intentions, with the upstream overall showing a strong willingness to hold prices firm. Procurement side, some end-user enterprises have lowered their psychological purchase price expectations in reference to the decline in steel scrap, while other buyers, concerned about market fluctuations ahead, have slowed down their procurement pace.

According to the BIR Stainless Steel & Special Alloys Committee's latest report, EU CBAM and steel safeguard measures have significantly protected the European market from global overcapacity, with import penetration reportedly falling by around half in early Q2. Despite this, standard stainless steel scrap prices have weakened due to holiday shutdowns, maintenance outages, increased slab imports, softer order intake, and lower nickel prices partly linked to Indonesia's consideration of higher mining quotas. European mills maintain conservative production and cautious scrap purchasing, with limited availability providing some floor support. In Asia, Taiwan's high summer electricity costs have dampened scrap demand; South Korea stabilized post-maintenance; India prioritizes domestic recycled material amid LME volatility and elevated freight costs, though domestic supply remains insufficient. US industrial sectors continue generating healthy scrap volumes, while the Middle East market remains resilient despite geopolitical headwinds, with GCC demand supported by infrastructure and energy projects. High-quality, traceable scrap continues to attract firm demand regardless of near-term nickel price fluctuations.