[NPI Daily Review] End-User Fear of High Prices Led to Sluggish Trading, High-Grade NPI Price Center Shifted Downward

Published: May 12, 2026 15:27

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[SMM Daily Comment: End-User Caution Over High Prices Led to Sluggish Trading, High-Grade NPI Price Center Shifted Downward] On May 12, the SMM high-grade NPI upstream sentiment factor was 3.36, down 0.16 MoM, and the high-grade NPI downstream sentiment factor was 2.33, down 0.09 MoM.

SMM News, May 12,

May 12, the SMM high-grade NPI market sentiment factor was 2.84, down 0.13 WoW, the high-grade NPI upstream sentiment factor was 3.36, down 0.16 WoW, and the high-grade NPI downstream sentiment factor was 2.33, down 0.09 WoW. The market fluctuated at highs, with intensified competition between sellers and buyers. On the supply side, supported by costs, the willingness to hold prices firm remained strong, but some enterprises slightly loosened their stance due to shipments pressure; downstream steel mills maintained a cautious purchasing attitude, restocking mainly based on rigid demand, with obvious resistance to high-priced sources, and end-user fear-of-heights sentiment remained unabated. Overall market transactions were sluggish, and the price center declined.

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.

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