SMM reported on May 22,
that on May 22, the average price of SMM 8-12% high-grade NPI was 949 yuan/mtu (ex-factory, tax included), up 2.5 yuan/mtu from the previous working day. Supply side, domestically, some smelters that had undergone maintenance resumed production, and the gradual increase in output drove a slight upward trend in overall production. In Indonesia, the current premium for domestic pyrometallurgy ore remained relatively firm, and the finished product prices had fallen below the cost line. Affected by losses, some high-cost production lines reduced their production loads, and overall production was expected to decline slightly. Demand side, stainless steel prices were boosted by the easing of tariff policies, with prices stabilizing and rising. However, the overall transaction situation did not improve significantly. The price that mainstream steel mills were willing to pay for raw materials stabilized, and some traders expressed willingness to stockpile, with purchase prices rising slightly from the previous period. Today, the market transaction atmosphere has warmed up somewhat, with transaction prices reaching a recent high. Overall, it is expected that high-grade NPI prices will stabilize and rise in the short term.
