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

Published: Sep 26, 2025 14:32

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[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.

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