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Home / Metal News / [NPI Daily Review] Market Bullish Sentiment Slightly Subsides, High-Grade NPI Still Has Upside Room

[NPI Daily Review] Market Bullish Sentiment Slightly Subsides, High-Grade NPI Still Has Upside Room

iconJan 9, 2026 13:53
[SMM Daily Review: Market Sentiment Slightly Weakens, High-Grade NPI Still Has Upside Room] January 9 - The average price of SMM 10-12% high-grade NPI was 962 yuan/mtu (ex-factory, tax included), up 2 yuan/mtu MoM from the previous working day.

SMM January 9 News,      

      On January 9, the SMM average price of 10-12% high-grade NPI was 962 yuan/mtu (ex-factory, tax included), up 2 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.83, down 0.05 MoM, the upstream sentiment factor for high-grade NPI was 1.89, down 0.01 MoM, and the downstream sentiment factor for high-grade NPI was 1.78, down 0.08 MoM. Supply side, market bullish sentiment slightly weakened, but upstream still held prices firm. Demand side, downstream stainless steel profits improved but demand remained sluggish, steel mill stockpiling demand was low, and market transactions were still dominated by traders. Overall, end-use demand support was weak, but spot cargo circulation in the market was limited, leaving upside room for high-grade NPI prices.

 

 

 

 

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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