[NPI Daily Review] Transaction Center Continues to Rise, High-Grade NPI Prices Supported

Published: Dec 24, 2025 11:25

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[SMM Daily Review: Transaction Center Continues to Rise, High-Grade NPI Prices Supported] Dec. 24 (SMM) – The average price of SMM 10-12% high-grade NPI was 893 yuan/mtu (ex-factory, tax included), up 4 yuan/mtu MoM from the previous working day.

SMM December 24 News,

On December 24, the average price of SMM 10-12% high-grade NPI was 893 yuan/mtu (ex-factory, tax included), up 4 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.64, up 0.02 MoM. Supply side, market sentiment continued to improve, driven by nickel prices and stainless steel prices, some upstream iron plants sold at high prices. Demand side, although leading stainless steel mills have no new purchase plans for the time being, there is some pre-Chinese New Year stockpiling and post-holiday bullish demand being released early in the market, some traders actively purchased, while individual steel mills had small-scale rigid demand restocking, overall price center rose. Overall, market sentiment improved significantly, upstream actively held prices firm, and high-grade NPI prices continued to rise.

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