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Home / Metal News / [NPI Daily Review] Cautious Sentiment in Upstream and Downstream Procurement and Sales Leads to Limited Market Transactions
[NPI Daily Review] Cautious Sentiment in Upstream and Downstream Procurement and Sales Leads to Limited Market Transactions
Jan 16, 2026 11:31[SMM Daily Review: Cautious Sentiment in Upstream and Downstream Procurement and Sales, Market Struggles to See Substantial Transactions] January 16 (SMM) - The average price of SMM 10-12% high-grade NPI was 1,017.5 yuan/mtu (ex-factory, tax included), up 5 yuan/mtu MoM from the previous working day.
SMM January 16 News,
On January 16, the average price of SMM 10-12% high-grade NPI was 1,017.5 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 2.09, up 0.03 MoM; the upstream sentiment factor for high-grade NPI was 2.53, up 0.12 MoM; and the downstream sentiment factor for high-grade NPI was 1.64, down 0.07 MoM. Supply side, upstream offers remained at 1,050-1,100 yuan/mtu, with some iron plants still relatively firm. Demand side, most downstream steel mills purchased cautiously, with a few maintaining intended prices at 1,020-1,030 yuan/mtu delivered. Overall, the significant price increase did not match actual end-user demand, and with cautious upstream and downstream procurement and sales, the market saw limited large-volume transactions.
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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