[NPI Daily Review] As the Holiday Approached, the Market Was Sluggish, and the Price Center of High-Grade NPI Moved Lower

Published: Apr 3, 2026 13:37

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[SMM Daily Review: As the Holiday Approaches, the Market Turns Sluggish and the Price Center of High-Grade NPI Moves Lower] April 3 News: SMM's upstream sentiment factor for high-grade NPI was 2.69, down 0.05 MoM, while the downstream sentiment factor for high-grade NPI was 1.49, down 0.02 MoM.

SMM News, April 3:

April 3 News: SMM's market sentiment factor for high-grade NPI was 2.09, down 0.04 MoM; the upstream sentiment factor for high-grade NPI was 2.69, down 0.05 MoM; and the downstream sentiment factor for high-grade NPI was 1.49, down 0.02 MoM. Supply side, the center of upstream quotations continued to edge lower, and as the holiday approached, market offers decreased. Demand side, only a small number of transactions were concluded recently, and the price center slipped slightly. Overall, with the Qingming Festival approaching, market activity was sluggish, and the price center moved slightly lower.

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.

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