[NPI Daily Review] Market Analysis Re-emerged, High-Grade NPI Prices Held Steady

Published: Apr 20, 2026 11:55

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[SMM Daily Comment: Market Analysis Re-emerged, High-Grade NPI Prices Held Steady] April 20 — SMM high-grade NPI upstream sentiment factor was 3.03, up 0.03 MoM, and the high-grade NPI downstream sentiment factor was 1.83, up 0.03 MoM.

SMM April 20 News,

April 20 News, the SMM high-grade NPI market sentiment factor was 2.43, up 0.03 MoM, the high-grade NPI upstream sentiment factor was 3.03, up 0.03 MoM, and the high-grade NPI downstream sentiment factor was 1.83, up 0.03 MoM. Supply side, nickel prices rose again, recovering the losses from last Friday's night session, with upstream offers remaining elevated and most suppliers continuing to gradually raise their quotes. Demand side, the proportion of applicable steel scrap used by downstream continued to increase, and steel mills' acceptance of high-grade NPI prices remained limited. Overall, market divergence emerged again, and the high-grade NPI price center held steady.

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