[SMM Flash News] As of May 12, SMM reported that the price range for SMM 10-12% high-grade NPI (ex-factory) was 937-948 yuan/mtu, with the average price down 2.5 yuan/mtu from the previous working day, and at a premium of 2.5 yuan/mtu over SMM 8-10% high-grade NPI (ex-factory). The price range for SMM 10-12% Indonesian high-grade NPI (CIF, tax included) was 937-950 yuan/mtu, with the average price down 2.5 yuan/mtu from the previous working day, and at a discount of 5 yuan/mtu to SMM 12-14% Indonesian high-grade NPI (CIF, tax included). The SMM high-grade NPI index was quoted at 946.56 yuan/mtu on the day, down 1.48 yuan/mtu from the previous working day, representing a 0.16% decline WoW. The SMM low-carbon high-grade NPI index was quoted at 953.8 yuan/mtu on the day, down 1.6 yuan/mtu from the previous working day.