[NPI Daily Review] Supply Tightness Strengthens Willingness to Hold Prices Firm, NPI Price Center Rises

Published: Jun 15, 2026 14:32

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[SMM Daily Review: Tight Supply Bolsters Willingness to Hold Prices Firm, NPI Price Center Rises] June 15 — SMM's high-grade NPI upstream sentiment factor was 2.74, up 0.01 MoM, and the downstream sentiment factor was 1.84, up 0.02 MoM.

SMM June 15 News,

June 15 News, the SMM high-grade NPI market sentiment index was 2.29, up 0.01 WoW. The upstream sentiment index for high-grade NPI was 2.74, up 0.01 WoW, and the downstream sentiment index was 1.84, up 0.02 WoW. Market sentiment recovered mildly today compared to last week, with NPI offers broadly firm. Many traders raised their premiums, and the price center edged up. Transactions in the market were still mainly based on an average futures price plus premium model, while spot cargo circulation tightened. Overall, with futures stabilizing and market sentiment improving, suppliers' willingness to hold prices firm strengthened, but the downstream procurement pace remained cautious, and high-priced cargoes still faced resistance in closing deals. In the short term, the market will likely continue the pattern of firm offers and a mild standoff in transactions.

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