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Home / Metal News / [NPI Daily Review] High-Grade NPI Prices Continue to Fall, Expected to Remain Under Pressure
[NPI Daily Review] High-Grade NPI Prices Continue to Fall, Expected to Remain Under Pressure
Oct 15, 2025 15:57[SMM Daily Review: High-Grade NPI Prices Continue to Fall, Expected to Remain Under Pressure] October 15 - The average price of SMM 10-12% high-grade NPI was 943 yuan/mtu (ex-factory, tax included), down 4.5 yuan/mtu MoM from the previous working day.
SMM October 15 News,
On October 15, the average price of SMM 10-12% high-grade NPI was 943 yuan/mtu (ex-factory, tax included), down 4.5 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.34, up 0.02 MoM. Supply side, after mainstream steel mills announced tender prices, although domestic smelters maintained a high psychological price level despite losses, their reluctance to budge on prices weakened amid market pressure, and the price center moved lower MoM. Demand side, most stainless steel mills followed the 945 yuan/mtu offer, with some transactions already concluded, but downstream players remained bearish on future prices. Overall, despite cost support, high-grade NPI prices are expected to have further downside room amid macro weakness and end-use consumption 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.
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