[NPI Daily Review] Steel Scrap Prices Continue to Fall Amid Weak Demand, Reinforcing Expectations of a Bottom in the NPI Market

Published: Oct 15, 2026 13:37 (GMT+8)

Save

[SMM Daily Review: Steel Scrap Price Declines and Weak Demand Further Reinforce Expectations of NPI Market Hitting Bottom] October 15 news, SMM high-grade NPI upstream sentiment factor was 1.8, down 0.05 MoM, and the high-grade NPI downstream sentiment factor was 1.66, down 0.05 MoM.

SMM, October 15:

On October 15, the SMM high-grade NPI market sentiment factor stood at 1.73, flat MoM. The upstream sentiment factor for high-grade NPI was 1.80, flat MoM, while the downstream sentiment factor for high-grade NPI was 1.66, also flat MoM. Bearish sentiment in the NPI market continued to build. The further reduction in steel scrap prices enhanced the substitution advantage of raw materials. Downstream stainless steel consumption remained sluggish, and the market lacked upward momentum, with all parties continuing to lower their expectations for the price bottom. At present, the negotiation center in the market kept moving downward, with a notable price spread between high and low offers. Most high-priced offers struggled to close deals, and only low-priced cargoes had room for negotiation. Some traders opted to withhold offers and stay on the sidelines, while steel mills that had previously intended to purchase also delayed entering the market, leaving overall trading activity sluggish.

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

1 hour ago

Indonesian MHP Nickel and Cobalt FOB Prices Drop, High-Grade Nickel Matte Down $72/mt Ni

According to SMM data, on October 15, the FOB price of Indonesian MHP nickel fell by $65/mt Ni from the previous day, and the FOB price of Indonesian MHP cobalt fell by $260/mt Co. The FOB price of Indonesian high-grade nickel matte fell by $72/mt Ni.

1 hour ago

SMM Data: Battery-Grade Nickel Sulphate Price Drops by 175 Yuan/MT on October 15

According to SMM data, on October 15, the average price of SMM battery-grade nickel sulphate fell by 175 yuan/mt from the previous day.

1 hour ago

[SMM Nickel Flash News] New Caledonia Explores Nickel Cooperation with Indonesia

New Caledonia is exploring cooperation with Indonesia in nickel mining and smelting, including potential business partnerships, technical exchange, and workforce development. Alcide Ponga, New Caledonia's government member in charge of mines and energy, described Indonesia as a strategic partner rather than merely a competitor. No specific investment agreements or projects have been confirmed.

1 hour ago