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Home / Metal News / [NPI Daily Review] Pre-Holiday Consumption Support Hard to Find, High-Grade NPI Sees Some Low-Price Transactions

[NPI Daily Review] Pre-Holiday Consumption Support Hard to Find, High-Grade NPI Sees Some Low-Price Transactions

iconSep 26, 2025 14:32
[SMM Daily Review: Pre-Holiday Consumption Support Hard to Find, Some Low-Price Transactions Seen in High-Grade NPI] September 26 - The average price of SMM 10-12% high-grade NPI was 954.5 yuan/mtu (ex-factory, tax included), flat MoM from the previous working day.

SMM September 26 News,      

   On September 26, the SMM average price for 10-12% high-grade NPI was 954.5 yuan/mtu (ex-factory, tax included), flat MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.34, down 0.02 MoM. Supply side, domestic smelters of high-grade NPI are still in a state of losses, with cost support remaining, but the reluctance to budge on prices has pulled back. Demand side, end-use consumption shows no signs of sustained improvement, and downstream stainless steel enterprises' purchase willingness remains persistently weak recently, with some low-price purchases emerging in the market. Overall, with ample market supply and weak overall buying and selling sentiment, high-grade NPI prices are under pressure.

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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