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Home / Metal News / [NPI Daily Review] Large Price Spread Between Upstream and Downstream Offers, High-Grade NPI Prices Remain Firm

[NPI Daily Review] Large Price Spread Between Upstream and Downstream Offers, High-Grade NPI Prices Remain Firm

iconJan 19, 2026 11:55
[SMM Daily Review: Large Price Gap Between Upstream and Downstream, High-Grade NPI Prices Remain Firm] Jan. 19 (SMM) - The average price of SMM 10-12% high-grade NPI was 1,027.5 yuan/mtu (ex-factory, tax included), up 10 yuan/mtu MoM from the previous working day.

SMM January 19 News,      

     On January 19, the average price of SMM 10-12% high-grade NPI was 1,027.5 yuan/mtu (ex-factory, tax included), up 10 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.18, up 0.09 MoM; the upstream sentiment factor for high-grade NPI was 2.67, up 0.14 MoM; and the downstream sentiment factor for high-grade NPI was 1.7, up 0.06 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 intended prices still maintained at 1,020-1,030 yuan/mtu delivered. Overall, high-grade NPI prices remained relatively firm, with upstream and downstream prices still in a tug-of-war.

 

 

 

 

 

 

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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