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Home / Metal News / [NPI Daily Review] Pre-Holiday Market Sentiment Weak, High-Grade NPI Prices Under Pressure
[NPI Daily Review] Pre-Holiday Market Sentiment Weak, High-Grade NPI Prices Under Pressure
Sep 29, 2025 13:57[SMM Daily Review: Thin Market Atmosphere Before the Holiday, High-Grade NPI Prices Under Pressure] September 29 - The average price of SMM 10-12% high-grade NPI was 954 yuan/mtu (ex-factory, tax included), down 0.5 yuan/mtu MoM from the previous working day.
SMM September 29 News,
On September 29, the SMM average price of 10-12% high-grade NPI was 954 yuan/mtu (ex-factory, tax included), down 0.5 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.33, down 0.01 MoM. Supply side, supported by cost and expectations of tight ore supply, market offers, although showing a downward trend, remained generally firm. Demand side, stainless steel finished product prices declined MoM, downstream profit margins suppressed purchase prices, and with the long holiday approaching, market trading activity was relatively light, putting pressure on high-grade NPI prices. Overall, end-use consumption underperformed in peak season, leading to some decline in high-grade NPI prices; however, combined with cost support during the traditional peak season, high-grade NPI prices are expected to resist significant declines in the short term.
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.
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