SMM May 6 News,
May 6 News, the SMM high-grade NPI market sentiment factor was 3.05, down 0.04 MoM, the high-grade NPI upstream sentiment factor was 3.6, up 0.02 MoM, and the high-grade NPI downstream sentiment factor was 2.5, down 0.1 MoM. Upstream, Indonesian nickel ore costs and windfall tax policy news supported the willingness to hold prices firm, with smelters generally holding back from selling and bullish, and high-grade NPI quotes rose in tandem. Downstream, steel mills had relatively positive purchasing sentiment before the holiday. Although most steel mills maintained a wait-and-see attitude after the holiday, the market overall still held up well.
![[NPI Daily Review] Futures Rebound Boosted Sentiment, Local NPI Transactions Saw Some Volume Increase](https://imgqn.smm.cn/usercenter/Btmsv20251217171733.jpg)
![[SMM Nickel Midday Review] On June 12, nickel prices rebounded, as the European Central Bank raised its three key interest rates by 25 basis points as expected.](https://imgqn.smm.cn/usercenter/NHXhQ20251217171733.jpg)
![[SMM Analysis] Spot cargo circulation is low, and MHP payables and the high-grade nickel matte payable indicator fluctuate at highs this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)
