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Home / Metal News / [NPI Daily Review] Market Wait-and-See Sentiment Weighs, High-Grade NPI Prices More Likely to Fall Than Rise
[NPI Daily Review] Market Wait-and-See Sentiment Weighs, High-Grade NPI Prices More Likely to Fall Than Rise
Oct 9, 2025 18:57[SMM Daily Review: Market Watch-and-See Sentiment Weighs, High-Grade NPI Prices More Likely to Fall Than Rise] October 9 - The average price of SMM 10-12% high-grade NPI was 953.5 yuan/mtu (ex-factory, tax included), down 0.5 yuan/mtu MoM from the previous working day.
SMM October 9 news,
On October 9, the SMM average price of 10-12% high-grade NPI was 953.5 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 2.28, down 0.03 MoM. Supply side, smelters still showed reluctance to budge on prices, but the price center has dropped slightly. Demand side, stainless steel finished product prices are more likely to fall than rise, and high-grade NPI prices are suppressed by downstream profits. After the National Day holiday, the wait-and-see sentiment remains strong. Overall, high-grade NPI prices in October are more likely to fall than rise, and are expected to show a gradual downward trend.
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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