[NPI Daily Review] Futures Still Provide Support, High-Grade NPI Prices Remain Firm

Published: Jan 22, 2026 11:07

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[SMM Daily Review: Futures Still Provide Support, High-Grade NPI Prices Remain Firm] Jan. 22 - SMM's average price for 10-12% high-grade NPI was 1,033.5 yuan/mtu (ex-factory, tax included), up 5 yuan/mtu MoM from the previous working day.

SMM January 22 news,

January 22 news, SMM 10-12% high-grade NPI average price 1,033.5 yuan/mtu (ex-factory, tax included), up 5 yuan/mtu MoM from the previous working day. High-grade NPI market sentiment factor 2.22, up 0.03 MoM; high-grade NPI upstream sentiment factor 2.78, up 0.07 MoM; high-grade NPI downstream sentiment factor 1.65, down 0.02 MoM. Supply side, upstream offers still show some disparity, but overall remain firm with futures. Demand side, most steel mills' purchase intention price remains at 1,020-1,030 yuan/mtu delivered, but few transactions occur at low prices currently. Overall, high-grade NPI prices remain firm.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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