SMM, May 11 –
On May 11, the SMM high-grade NPI market sentiment factor stood at 2.97, down 0.08 MoM. The upstream sentiment factor for high-grade NPI was 3.52, down 0.08 MoM, while the downstream sentiment factor was 2.42, down 0.07 MoM. Today, the NPI market remained in a high-level stalemate, with a wide quotation range and evident supply-demand divergence. Suppliers showed strong willingness to hold prices firm, supported by solid costs. Downstream steel mills mainly made just-in-time procurement, with end-users displaying strong fear of heights and wait-and-see sentiment. Overall market transactions were sluggish, with only a small amount of hedging supply released due to stable futures.
