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Home / Metal News / [NPI Daily Review] Pre-Holiday Limited Transactions Drive Prices; High-Grade NPI's Future Outlook Remains Pessimistic

[NPI Daily Review] Pre-Holiday Limited Transactions Drive Prices; High-Grade NPI's Future Outlook Remains Pessimistic

iconSep 23, 2025 18:34
[SMM Daily Review: Pre-Holiday Limited Transactions Drive Prices, High-Grade NPI Market Outlook Remains Pessimistic] September 23 (SMM) - The average price of SMM 10-12% high-grade NPI was 955 yuan/mtu (ex-factory, tax included), up 0.5 yuan/mtu MoM from the previous working day.

SMM September 23 News,      

   September 23 News, SMM 10-12% high-grade NPI average price was 955 yuan/mtu (ex-factory, tax included), up 0.5 yuan/mtu MoM from the previous working day. The high-grade NPI market sentiment factor was 2.38, flat MoM. Supply side, auxiliary material prices rebounded, cost support strengthened again, smelters' offers remained firm. But demand side, downstream stainless steel enterprises found it difficult to raise selling prices, and held no optimistic expectations for October consumption, current procurement demand remained weak, with only a small amount of transactions before the holiday driving price increases, yet unable to improve the pessimistic outlook. Overall, price rise faced resistance, but cost support remained firm, high-grade NPI prices still had support at lower levels.

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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