SMM High-Grade NPI Sentiment Index Remains Flat in July, Spot Market Sees Sluggish Near-Month Transactions

Published: Jul 31, 2026 14:42

Save

[SMM Nickel Flash] On July 31, SMM’s high-grade NPI market sentiment index stood at 2, flat MoM; the upstream sentiment index for high-grade NPI was 2.04, flat MoM; and the downstream sentiment index was 1.97, flat MoM. The high-grade NPI spot market saw sluggish near-month spot transactions, with forward-month cargo trading dominating.

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

18 mins ago

Data: SHFE, DCE market movement (Jul 31)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 31 Jul , 2026

18 mins ago

28 mins ago

[SMM Analysis] China Stainless Future Ease on Fed Hawkishness and Seasonal Weakness, Nickel and Restocking Provide Floor

SMM Weekly Stainless Steel Futures Review — week of July 27 – July 31, 2026. A hawkish Fed hold, deepening off-season demand weakness, and the first inventory build in weeks drag the benchmark contract down RMB 135/mt in the week

28 mins ago

1 hour ago

[SMM Analysis] Sulphate Prices Under Pressure, Intermediate Product Payables in the Doldrums This Week

1 hour ago