[NPI Daily Review]Spot cargo supply was tight, and the NPI market saw divergent price quotations and mediocre transactions.

Published: Jun 8, 2026 11:50

Save

[SMM Daily Review: Spot Supply Tight, NPI Market Prices Divergent and Transactions Mediocre] Jun 8 - SMM high-grade NPI upstream sentiment factor was 2.95, flat MoM, while the high-grade NPI downstream sentiment factor was 1.93, down 0.02 MoM.

SMM June 8 news,

June 8 news: SMM high-grade NPI market sentiment index stood at 2.44, down 0.01 MoM; the upstream sentiment index for high-grade NPI was 2.95, flat MoM; and the downstream sentiment index for high-grade NPI was 1.93, down 0.02 MoM. Today, the nickel pig iron market saw mediocre trading atmosphere, a wide quotation range, and persistent price divergence between buyers and sellers. In terms of prices, quotations for mainstream 11% grade NPI were mixed, with some notably pulling back from early this month while others edged up slightly. Overall, declining futures exerted some pressure on spot prices, and coupled with difficulty in aligning transaction prices, the nickel pig iron market is expected to continue seeing divergent quotations and sluggish trading in the short term.

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

37 mins ago

High-Grade NPI Market Stalemate Continues, Spot Trading Sluggish Amid Disruptions

[SMM Nickel Express] July 28 news: The high-grade NPI spot market continued its stalemate game pattern, with overall trading mediocre and actual transaction deals scarce. The price spread divergence between upstream and downstream persisted, and the market showed a divergent feature of weak spot and strong forward. Some cargoes were affected by disruptions, leading to shipment delays, which slowed down the release pace of spot circulation in the short term, providing phased support for spot prices.

37 mins ago

38 mins ago

SMM High-Grade NPI Sentiment Factors Decline in July

[SMM Nickel Flash] July 28 - SMM high-grade NPI market sentiment factor was 1.98, down 0.02 MoM; high-grade NPI upstream sentiment factor was 2.00, down 0.03 MoM; high-grade NPI downstream sentiment factor was 1.95, down 0.02 MoM.

38 mins ago

2 hours ago

[SMM Nickel Intermediate Product Daily Review] July 28: Nickel prices for MHP and high-grade nickel matte rise

As of now, FOB prices for Indonesia MHP nickel are at $15,493/mt Ni, and FOB prices for Indonesia MHP cobalt are at $49,213/mt Co. MHP payables (against SMM battery-grade nickel sulphate index) stand at 85.5-86.5, and MHP cobalt payables (against SMM refined cobalt (Rotterdam warehouse)) are at 93. Indonesia high-grade nickel matte FOB prices are at $15,879/mt Ni.

2 hours ago