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Home / Metal News / [NPI Daily Review] High-grade NPI Prices Remain Supported, Yet Downstream Transaction Prices Fall Short of Expectations

[NPI Daily Review] High-grade NPI Prices Remain Supported, Yet Downstream Transaction Prices Fall Short of Expectations

iconJan 14, 2026 13:51
[SMM Daily Review: High-Grade NPI Prices Remain Supported, But Downstream Transaction Prices Fall Short of Expectations] January 14 - The average price of SMM 10-12% high-grade NPI was 982.5 yuan/mtu (ex-factory, tax included), up 2 yuan/mtu MoM from the previous working day.

SMM January 14 News,      

      On January 14, the average price of SMM 10-12% high-grade NPI was 982.5 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 2.00, up 0.04 MoM; the upstream sentiment factor for high-grade NPI was 2.26, up 0.11 MoM; and the downstream sentiment factor for high-grade NPI was 1.75, down 0.02 MoM. Supply side, sentiment among a small number of upstream enterprises has cooled, but the overall trend of holding prices firm remains relatively clear. Demand side, pre-holiday stockpiling by downstream players has largely concluded, spot cargo demand in the market is limited, and back-and-forth negotiations between upstream and downstream are evident. Overall, high-grade NPI prices remain supported, but transaction prices for downstream procurement are slightly below expectations.

 

 

 

 

 

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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