SMM News, May 29,
May 29, the SMM high-grade NPI market sentiment factor was 2.54, up 0.01 MoM, the high-grade NPI upstream sentiment factor was 3.11, up 0.01 MoM, and the high-grade NPI downstream sentiment factor was 1.97, flat MoM. NPI spot prices overall stayed high and stable today, with mainstream spot quotes remaining firm. In the short term, spot market prices fluctuated mildly, futures quotes remained stable, market trading sentiment tended to stabilize, and forward demand growth along with structural supply tightness continued to provide support. Overall, the NPI market fundamentals were positive, with ample support at high levels, and the short-term market is likely to continue running firm at high levels and moving sideways within a narrow range.
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