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Home / Metal News / [NPI Daily Review] Futures Pull Back, Market Transactions Sluggish, High-Grade NPI Prices Fluctuate at Highs

[NPI Daily Review] Futures Pull Back, Market Transactions Sluggish, High-Grade NPI Prices Fluctuate at Highs

iconJan 27, 2026 16:40
[SMM Daily Review: Futures Pull Back and Market Trading Sluggish, High-Grade NPI Prices Fluctuate at Highs] Jan. 27 (SMM) – The average price of SMM 10-12% high-grade NPI was 1,053 yuan/mtu (ex-factory, tax included), up 3 yuan/mtu MoM from the previous working day.

SMM January 27 news,      

     On January 27, the SMM average price of 10-12% high-grade NPI was 1,053 yuan/mtu (ex-factory, tax included), up 3 yuan/mtu MoM from the previous working day. The high-grade NPI market sentiment factor was 2.2, down 0.02 MoM, the upstream sentiment factor for high-grade NPI was 2.9, down 0.02 MoM, and the downstream sentiment factor for high-grade NPI was 1.49, down 0.04 MoM. Supply side, futures prices pulled back, but amid rising nickel ore prices and limited spot high-grade NPI availability, upstream offers continued to rise. Demand side, with futures pulling back, downstream steel mills adopted a cautious purchasing stance, and market transactions were sluggish. Overall, the market was sluggish, with high-grade NPI prices edging up slightly.

 

 

 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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