[NPI Daily Review] Market Analysis Re-emerged, High-Grade NPI Prices Held Steady

Published: Apr 20, 2026 11:55

Save

[SMM Daily Comment: Market Analysis Re-emerged, High-Grade NPI Prices Held Steady] April 20 — SMM high-grade NPI upstream sentiment factor was 3.03, up 0.03 MoM, and the high-grade NPI downstream sentiment factor was 1.83, up 0.03 MoM.

SMM April 20 News,

April 20 News, the SMM high-grade NPI market sentiment factor was 2.43, up 0.03 MoM, the high-grade NPI upstream sentiment factor was 3.03, up 0.03 MoM, and the high-grade NPI downstream sentiment factor was 1.83, up 0.03 MoM. Supply side, nickel prices rose again, recovering the losses from last Friday's night session, with upstream offers remaining elevated and most suppliers continuing to gradually raise their quotes. Demand side, the proportion of applicable steel scrap used by downstream continued to increase, and steel mills' acceptance of high-grade NPI prices remained limited. Overall, market divergence emerged again, and the high-grade NPI price center held steady.

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 to learn 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

9 hours ago

Nickel Market Sees Supply-Demand Divergence, High-Grade Premiums Persist Amid Sluggish Trading

[SMM Nickel Flash] May 13: Supply-demand divergence remained significant. Supply side, some enterprises still had high-price transaction support, with notable premiums on high-grade resources, but arbitrage selling persisted and the willingness to hold prices firm weakened marginally. Downstream steel mills, dragged down by sluggish stainless steel sales, saw continuously declining acceptance of high prices, with purchasing intentions concentrated at 1,130-1,150 yuan/nickel unit. Overall market trading activity was subdued.

9 hours ago

SMM High-Grade NPI Market Sentiment Rises Slightly, Prices Remain Steady Under Pressure

[SMM Nickel Flash] On May 13, the SMM high-grade NPI market sentiment indicator was 2.85, up 0.01 MoM, the high-grade NPI upstream sentiment indicator was 3.37, up 0.01 MoM, and the high-grade NPI downstream sentiment indicator was 2.33, flat MoM. The NPI market continued to fluctuate at highs today, with the price center holding steady but under pressure.

9 hours ago

10 hours ago

Data: SHFE, DCE market movement (May 13)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 13 May , 2026

10 hours ago