[Daily Review of NPI] The market maintains just-in-time procurement. The price increase of high-grade NPI is hindered.

Published: Jul 29, 2025 14:34

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[SMM Daily Review: Market Maintains Just-in-Time Procurement, Price Increase of High-Grade NPI Hindered] On July 29, the average price of SMM 8-12% high-grade NPI was 912 yuan/mtu (ex-factory, tax included), unchanged from the previous working day...

SMM reported on July 29,

On July 29, the average price of SMM 8-12% high-grade NPI was 912 yuan/mtu (ex-factory, tax included), unchanged from the previous working day. Supply side, the cost of upstream smelters remained inverted, and the willingness to sell had not improved, with strong wait-and-see sentiment. On the consumption side, downstream steel mills had low acceptance of high prices, and most transactions in the market were made by traders or involved just-in-time procurement by steel mills. Overall, the recent high-grade NPI market had prices but no transactions, with downstream procurement mainly focused on just-in-time procurement and using the average price method. Looking ahead, it is expected that the upward momentum for high-grade NPI quotes within the week will be limited.

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