[NPI Daily Review] Stainless Steel Scrap Shows Clear Economic Advantage, High-Grade NPI Rises Slightly

Published: Jan 28, 2026 12:54

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[SMM Daily Review: Stainless Steel Scrap Shows Clear Economic Advantage, High-Grade NPI Rises Only Slightly] January 28 (SMM) – The average price of SMM 10-12% high-grade NPI stood at 1,054 yuan/mtu (ex-factory, tax included), up 1 yuan/mtu MoM from the previous working day.

SMM January 28 News,

On January 28, the SMM average price of 10-12% high-grade NPI was 1,054 yuan/mtu (ex-factory, tax included), up 1 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.17, down 0.03 MoM; the upstream sentiment factor for high-grade NPI was 2.91, up 0.01 MoM; and the downstream sentiment factor for high-grade NPI was 1.43, down 0.06 MoM. Supply side, nickel prices retreated, and most upstream offers held steady. Demand side, given the economic advantage of stainless steel scrap, downstream steel mills opted for large-scale procurement of steel scrap as raw material, resulting in limited high-priced transactions for high-grade NPI. Overall, pre-holiday upward momentum weakened, and high-grade NPI prices rose slightly.

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