[NPI Daily Review] NPI Price Center Shifts Upward, Market in High-Level Game Phase

Published: May 7, 2026 12:08

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[SMM Daily Comment: NPI Price Center Shifts Upward, Market in High-Level Trading Phase] May 7 — The SMM high-grade NPI upstream sentiment factor was 3.64, up 0.04 MoM, and the high-grade NPI downstream sentiment factor was 2.54, up 0.04 MoM.

SMM May 7 News,

May 7 News, the SMM high-grade NPI market sentiment index was 3.09, up 0.04 MoM, the high-grade NPI upstream sentiment index was 3.64, up 0.04 MoM, and the high-grade NPI downstream sentiment index was 2.54, up 0.04 MoM. Today, high-grade NPI market sentiment continued to fluctuate upward, with the pricing center shifting higher. Upstream, smelters generally held prices firm and held back from selling, continuously raising quotes. Premiums for bottom-of-hold and high-grade cargoes rose, and some high-priced orders were concluded. Downstream, steel mills showed notable divergence in purchase willingness, with most entities showing low acceptance of high prices, and only a small amount of just-in-time procurement followed through. Fear-of-heights sentiment in the manufacturing sector persisted, and the market overall was in a high-level standoff phase, likely to maintain a fluctuating upward trend in the short term.

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