[Nickel Pig Iron Daily Review] Upstream Iron Plants Achieve High-Price Transactions, High-Grade NPI Unlikely to Continue Declining

Published: Dec 5, 2025 13:50

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[SMM Daily Review: Upstream Iron Plants See High-Price Transactions, High-Grade NPI Unlikely to Continue Falling] December 5 (SMM) - The average price of SMM 10-12% high-grade NPI stood at 881 yuan/mtu (ex-factory, tax included), flat MoM from the previous working day.

SMM December 5 News,

On December 5, the SMM average price for 10-12% high-grade NPI was 881 yuan/mtu (ex-factory, tax included), down 0.5 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.75, up 0.01 MoM. Supply side, upstream sentiment to hold prices firm continued to rise, with transaction prices from some iron plants showing a significant rebound. Demand side, most steel mills had limited acceptance of high prices, with most market transactions being purchases by traders. Overall, high-grade NPI is expected to find it difficult to continue falling.

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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