SMM, October 9,
October 9 news, the SMM high-grade NPI market sentiment factor stood at 1.79, flat MoM. The upstream sentiment factor for high-grade NPI was 1.87, flat MoM, and the downstream sentiment factor for high-grade NPI was 1.72, flat MoM. After the holiday, trading in China's nickel pig iron market was generally thin, with most traders and producers staying on the sidelines and not yet resuming normal quoting pace, leaving overall liquidity weak. On price expectations, market views diverged notably. Nickel prices and ore prices fell, and some enterprises believed there was still downside for prices, while a few supply-side enterprises maintained high indicative offer prices. Overall, the market currently lacked clear direction, downstream purchase willingness was weak, and prices awaited more spot transaction signals for guidance.
