SHANGHAI, Jan 18 — According to SMM survey, the domestic NPI inventory accumulated slightly in January. This includes the inventory on the hands of some traders. If the part that can be circulated by traders is removed, the overall inventory is expected to have dropped, abating the pressure on NPI plants. Some cargoes have been booked which are scheduled for delivery in February. The supply appeared to have tightened currently. NPI plants lacked interest in selling.
From December 2022 to January 2023, frequent industrial accidents have had a significant impact on market expectations. However, according to the most recent SMM survey, the impact from those industrial accidents was limited on the supply in view of the already significant output cuts of high-grade NPI in December and January. The specific impact is as follows: