SMM High-Grade NPI Market: Weak Sentiment, Low Trading Volume, Prices Under Pressure

Published: Nov 18, 2025 14:11

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[SMM High-Grade NPI Market] November 18 – Supply side, current high-grade NPI prices have fallen below historical lows, and market sentiment remains weak. Upstream suppliers' offers may continue to decline. Demand side, downstream buyers tend to rush to buy amid continuous price rise and hold back amid price downturn. Recent market trading volume remains low, with only a small number of low-price transactions occurring. Overall, market trading activity remains insufficient, and high-grade NPI prices are expected to remain under pressure.

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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