[NPI Daily Review] Wide Buying-Selling Price Spread Keeps NPI Market Trading Sluggish

Published: Jun 11, 2026 11:51

Save

[SMM Daily Review: Significant Bid-Ask Price Spread Keeps Nickel-Iron Market Trading Sluggish] Jun 11 news, SMM high-grade NPI upstream sentiment factor was 2.81, down 0.07 MoM, and high-grade NPI downstream sentiment factor was 1.85, down 0.04 MoM.

SMM June 11 - ,

On June 11, the SMM high-grade NPI market sentiment factor was 2.26, down 0.07 MoM, the upstream sentiment factor for high-grade NPI was 2.72, down 0.09 MoM, and the downstream sentiment factor for high-grade NPI was 1.81, down 0.04 MoM. Futures continued their decline during the daytime session, and NPI spot trading remained sluggish, with price divergence further highlighted as the bid-ask spread between buyers and sellers continued to widen. Given the market divergence, negotiations were commonly based on average prices plus premiums. On the demand side, steel scrap offers outstanding cost-effectiveness, with nickel unit costs at low levels when converted; downstream users increased their scrap ratio, reducing NPI procurement demand and adopting a cautious procurement stance. Overall, the tug of war between suppliers holding prices firm and buyers pushing for lower prices persisted. Coupled with weak demand, the market in the short term will remain in a state of sluggish trading and weak fluctuations.

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

7 hours ago

Data: SHFE, DCE market movement (Jun 11)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 11 Jun , 2026

7 hours ago

8 hours ago

[SMM Nickel Intermediate Products Daily Review] June 11 MHP, High-Grade Nickel Matte Nickel Prices, Cobalt Prices Decline

As of now, the FOB price of Indonesian MHP nickel stands at $16,743/mt Ni, and the FOB price of Indonesian MHP cobalt is $51,343/mt Co. The MHP payables (against the SMM battery-grade nickel sulphate index) range from 83.5-85, and the cobalt payable indicator for MHP (against SMM refined cobalt, Rotterdam warehouse) is 95. The FOB price of Indonesian high-grade nickel matte is $16,831/mt Ni.

8 hours ago

10 hours ago

[SMM Stainless Steel Flash] Italian Steel Prices Set to Rise in Summer on New EU Safeguard Measures

Italy's steel market faces persistent downstream weakness, but the EU's new safeguard measures taking effect July 1, featuring significantly tighter import quotas and doubled out-of-quota duties, compounded by CBAM and antidumping constraints, are expected to sharply curtail non-EU procurement options, strengthen EU mills' bargaining power, and drive a price rebound during summer as inventories draw down. In the stainless steel segment, service center volumes collapsed 15–20% MoM in May as artificial price supports faded, with Assofermet seeing no near-term recovery signals.

10 hours ago