






SMM October 28 News,
On October 28, the average price of SMM 10-12% high-grade NPI was 926.5 yuan/mtu (ex-factory, tax included), down 2 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.14, down 0.04 MoM. Supply side, as prices fell, approaching the cost line in Indonesia, upstream quotations and willingness to sell weakened. Demand side, with the end of the peak season effect and the downward trend, most downstream players continued to anticipate declines, with strong wait-and-see sentiment, and only a small number of transactions were concluded in the market. Overall, despite cost support, high-grade NPI still has some downside room in the short term.
For queries, please contact Lemon Zhao at lemonzhao@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn