[NPI Daily Review] Upstream and Downstream Divergence Gradually Narrowed, Market Activity Continued to Increase

Published: Apr 22, 2026 13:43

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[SMM Daily Comment: Divergence Between Upstream and Downstream Gradually Narrowed, Market Activity Continued to Increase] April 22 — The SMM high-grade NPI upstream sentiment factor was 3.1, up 0.02 MoM, and the high-grade NPI downstream sentiment factor was 1.91, up 0.05 MoM.

SMM April 22 News,

April 22 News, the SMM high-grade NPI market sentiment factor was 2.51, up 0.04 MoM, the high-grade NPI upstream sentiment factor was 3.1, up 0.02 MoM, and the high-grade NPI downstream sentiment factor was 1.91, up 0.05 MoM. Supply side, upstream held prices firm, but amid uncertainty over the market outlook, some upstream suppliers gradually shipped small volumes. Demand side, downstream steel mills had rigid restocking demand, with intended prices and transaction prices gradually edging up. Overall, the divergence between upstream and downstream was gradually narrowing, and the market transaction price center edged up slightly.

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