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Home / Metal News / [NPI Daily Review] High-grade NPI price center returns to 900, but lacks sustained upward momentum.
[NPI Daily Review] High-grade NPI price center returns to 900, but lacks sustained upward momentum.
Dec 25, 2025 11:59[SMM Daily Review: High-Grade NPI Price Center Returns to 900, but Lacks Sustained Upward Momentum] December 25 (SMM) - The average price of SMM 10-12% high-grade NPI was 899 yuan/mtu (ex-factory, tax included), up 6 yuan/mtu MoM from the previous working day.
SMM December 25 News,
On December 25, the SMM average price for 10-12% high-grade NPI was 899 yuan/mtu (ex-factory, tax included), up 6 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.62, down 0.02 MoM. Supply side, supported by some high-priced transactions and cost underpinning, upstream offers remained firm, providing a floor for high-grade NPI prices. Demand side, some small steel mills conducted necessary restocking, with transaction prices around 920-930 yuan/mtu delivered to the plant, and some traders also made small purchases. However, mainstream steel mills showed no purchase willingness. Overall, the price center for high-grade NPI returned to above 900 yuan/mtu, but with weak downstream buying interest, a sustained upward momentum is expected to be lacking.
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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