[ NPI Daily Review ] High-Grade NPI Prices Remain Unchanged Amid Negotiations, Decline Slowly Under Cost Support

Published: Oct 10, 2025 14:11

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[SMM Daily Review: High-Grade NPI Prices Hold Flat Amid Negotiations, Slow Decline Supported by Costs] October 10 - The average price of SMM 10-12% high-grade NPI was 953.5 yuan/mtu (ex-factory, tax included), flat MoM from the previous working day.

SMM October 10 news,

On October 10, the SMM average price of 10-12% high-grade NPI was 953.5 yuan/mtu (ex-factory, tax included), flat MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.28, unchanged MoM. Supply side, smelters still showed reluctance to budge on prices, but the price center has seen a slight drop. Demand side, stainless steel sales remain under pressure, and high-grade NPI prices are suppressed by downstream margins. Cost side, ore prices have increased to some extent, providing support for high-grade NPI prices. Overall, high-grade NPI prices are under pressure, but downside room is limited.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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