[SMM NPI Market] On August 4, the average price of SMM 10-12% high-grade NPI was 913.5 yuan/mtu (ex-factory, tax included), up 1.5 yuan/mtu from the previous working day. Supply side, smelters' psychological price levels for shipments remained high this week, with only a small amount of high-priced shipments. On the consumption side, according to SMM, some traders purchased goods in advance amid bullish sentiment, and there were some forward high-priced transactions in the market. Overall, traders achieved high-priced transactions, and the market awaited the performance of end-users and purchases by downstream enterprises in August.