[High-Grade NPI Market] Today, a mainstream steel mill in South China tendered a bottom price of 940 yuan/mtu. After the tender price was announced, it boosted the sentiment for quotations and inquiries from both upstream and downstream. Supply side, upstream cost lines remain high, showing a clear reluctance to budge on prices. Demand side, current consumption is also underperforming expectations. Overall, mainstream steel mills are expected to support higher high-grade NPI quotes, while a large volume of transaction prices may await further negotiations.