SMM High-Grade NPI Sentiment Index Rises Slightly, Market Prices Edge Lower Amid Tug-of-War

Published: Sep 11, 2026 16:02

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[SMM Nickel Flash] On September 11, the SMM high-grade NPI market sentiment index stood at 1.77, up 0.03 MoM. The upstream sentiment index for high-grade NPI was 1.85, up 0.02 MoM, while the downstream sentiment index for high-grade NPI was 1.68, up 0.02 MoM. High-grade NPI prices continued to edge lower, with low-price transactions gradually emerging, further intensifying the market tug-of-war.

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