[NPI Daily Review] As Nickel Prices Recovered, Low-Priced Sell-Offs Disappeared, and the Transaction Center of High-Grade NPI Stabilized

Published: Mar 23, 2026 13:32

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[SMM Daily Review: As Nickel Prices Rebounded, Low-Priced Selling Disappeared; the Transaction Center of High-Grade NPI Stabilized] March 23 News: SMM's upstream sentiment factor for high-grade NPI was 2.87, up 0.03 MoM, while the downstream sentiment factor for high-grade NPI was 1.63, flat MoM.

SMM News, March 23:

March 23 News: SMM's market sentiment factor for high-grade NPI was 2.25, up 0.02 MoM; the upstream sentiment factor for high-grade NPI was 2.87, up 0.03 MoM; and the downstream sentiment factor for high-grade NPI was 1.63, flat MoM. Supply side, ore supply issues continued to support the production cost of high-grade NPI, while the recovery in nickel prices brought an end to low-price sell-offs in the market. Demand side, steel mills still preferred to purchase steel scrap, and their willingness to purchase high-grade NPI was currently low. Overall, the transaction center for high-grade NPI stabilized, and the market is expected to see a rebound in stainless steel prices boost the ceiling for raw material prices.

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