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Home / Metal News / [NPI Daily Review] High-Grade NPI Prices in a Stalemate, Market Awaits Guidance from Stainless Steel Prices

[NPI Daily Review] High-Grade NPI Prices in a Stalemate, Market Awaits Guidance from Stainless Steel Prices

iconSep 19, 2025 17:17
[SMM Daily Review: High-Grade NPI Prices Stagnate as Market Awaits Guidance from Stainless Steel Prices] September 19 (SMM) - The average price of SMM 10-12% high-grade NPI was 954.5 yuan/mtu (ex-factory, tax included), unchanged from the previous trading day.

SMM September 19 news,      

   On September 19, the SMM average price of 10-12% high-grade NPI was 954.5 yuan/mtu (ex-factory, tax included), flat from the previous working day. The market sentiment factor for high-grade NPI was 2.40, down 0.02 MoM. Supply side, auxiliary material prices rebounded, cost support strengthened again, smelters held back cargoes, and offers remained firm. Demand side, downstream stainless steel enterprises found it difficult to raise selling prices, and had no optimistic expectations for October consumption, with current procurement demand weak. Overall, price increases faced resistance, but cost support strengthened again, providing a floor for high-grade NPI prices.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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