[NPI Daily Review] Upstream Costs and Downstream Selling Prices Were Difficult to Match, High-Grade NPI Prices Remained in Stalemate

Published: Apr 1, 2026 11:35

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[SMM Daily Review: Upstream Costs and Downstream Selling Prices Remained Difficult to Match, High-Grade NPI Prices Stayed in a Stalemate] April 1 News: SMM's upstream sentiment factor for high-grade NPI was 2.71, down 0.07 MoM, while the downstream sentiment factor for high-grade NPI was 1.5, down 0.04 MoM.

SMM News, April 1:

April 1 News: SMM's high-grade NPI market sentiment factor was 2.1, down 0.06 MoM; the upstream high-grade NPI sentiment factor was 2.71, down 0.07 MoM; and the downstream high-grade NPI sentiment factor was 1.5, down 0.04 MoM. Supply side, amid pressure from both upstream and downstream, quotations from smelters and traders were basically flat. Demand side, buying interest from downstream steel mills remained weak, with limited market demand. Overall, high upstream costs were difficult to match with end-use product prices, and high-grade NPI prices remained stagnant.

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