NPI Prices Continued to Drop amid the Weak Demand and Slack Industry

Published: Jun 30, 2022 17:40

Source: SMM

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On June 30, SMM average price of high-grade NPI was 1,345 yuan/mtu (ex-factory, tax included), down by 50 yuan/mt from the previous trading day.

SHANGHAI, Jun 30 (SMM) - On June 30, SMM average price of high-grade NPI was 1,345 yuan/mtu (ex-factory, tax included), down by 50 yuan/mt from the previous trading day. The falling NPI prices suppressed upstream’s willingness to quote and ship. High costs of NPI plants brought losses to the market, but they had to accept the reality amid the poor demand. On the demand side, steel mills chose to cut their production due to rare orders and narrow profit margins, which further dragged down the demand for raw materials, putting huge pressure on NPI. NPI prices may drop further as the plants try to reduce their losses by shipping goods and they lower their purchase prices of ores, creating a downward space for the NPI prices. Demand from the steel mill remains slack, and the terminal demand does not improve significantly.

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