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Home / Metal News / [NPI Daily Review] Supply-Demand Imbalance Deepens with Weak Transactions, High-Grade NPI Prices Expected to Remain in the Doldrums

[NPI Daily Review] Supply-Demand Imbalance Deepens with Weak Transactions, High-Grade NPI Prices Expected to Remain in the Doldrums

iconNov 24, 2025 11:20
[SMM Daily Review: Supply-Demand Imbalance Deepens and Transactions Weaken, High-Grade NPI Prices Expected to Remain in the Doldrums] November 24 (SMM) - The average price of 10-12% high-grade NPI was 889 yuan/mtu (ex-factory, tax included), down 1.5 yuan/mtu MoM from the previous working day.

SMM November 24 News,      

       On November 24, the SMM average price of 10-12% high-grade NPI was 889 yuan/mtu (ex-factory, tax included), down 1.5 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.83, down 0.02 MoM. Supply side, current supply remains stable, but upstream acceptance of low prices is low, and the willingness to sell is weak. Demand side, guided by the tender prices of mainstream steel mills, downstream stainless steel mills are more active in inquiries, but due to the deepening supply-demand imbalance, it is difficult to find large-scale transactions in the market. Overall, both upstream and downstream are facing consumption and loss pressures during the off-season, and under the supply-demand imbalance, high-grade NPI prices are expected to remain in the doldrums.

 

 

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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