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Home / Metal News / [NPI Daily Review] Market Lacks Confidence Under End-User Pressure, High-Grade NPI Prices Continue to Decline
[NPI Daily Review] Market Lacks Confidence Under End-User Pressure, High-Grade NPI Prices Continue to Decline
Dec 17, 2025 11:16[SMM Daily Review: Market Lacks Confidence Under Terminal Pressure, High-Grade NPI Price Continues to Decline] December 17 (SMM) - The average price of SMM 10-12% high-grade NPI was 885 yuan/mtu (ex-factory, tax included), down 1.5 yuan/mtu MoM from the previous working day.
SMM December 17 News,
On December 17, the SMM average price for 10-12% high-grade NPI was 885 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 1.58, down 0.04 MoM. Supply side, domestic upstream smelters' offers remain high, but transactions are scarce, with some Indonesian smelters already seeing small volumes of low-priced sales. Demand side, futures prices show no significant recovery, end-use consumption remains sluggish, market confidence in the outlook is lacking, and downstream buying interest continues to be weak. Overall, a small number of low-priced transactions have emerged in the market, and high-grade NPI prices continue to decline.
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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