SMM High-Grade NPI Sentiment Index Dips to 1.75, Downstream Confidence Wanes

Published: Sep 15, 2026 15:16

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[SMM Nickel Flash] On September 15, SMM's high-grade NPI market sentiment index stood at 1.75, down 0.02 MoM. The upstream sentiment index for high-grade NPI was 1.85, flat MoM, while the downstream sentiment index for high-grade NPI was 1.66, down 0.02 MoM. The NPI market remains locked in a weak bargaining dynamic.

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