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Home / Metal News / [Daily Nickel Pig Iron Review] High-Grade NPI Has Bottom Support, Expected to Have Upside Room in the Short Term
[Daily Nickel Pig Iron Review] High-Grade NPI Has Bottom Support, Expected to Have Upside Room in the Short Term
Dec 26, 2025 11:53[SMM Daily Review: High-Grade NPI Has Bottom Support, Expected to Have Upside Room in the Short Term] Dec. 26 (SMM) - The average price of SMM 10-12% high-grade NPI was 904 yuan/mtu (ex-factory, tax included), up 5 yuan/mtu MoM from the previous working day.
SMM December 26 -
On December 26, the SMM average price for 10-12% high-grade NPI was 904 yuan/mtu (ex-factory, tax included), up 5 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, 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 from steel mills around 920-930 yuan/mtu delivered, and some traders made small purchases at low prices, but mainstream steel mills showed no purchase willingness. Overall, the price center for high-grade NPI returned above 900 yuan/mtu, with further upside room expected in the short term.
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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