[NPI Daily Review] High-grade NPI Prices See Slight Rebound, Significant Fluctuations Unlikely Before Holiday

Published: Feb 6, 2026 15:16

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[SMM Daily Review: High-Grade NPI Prices Edge Up, Significant Fluctuations Unlikely Before Holiday] February 6 - The average price of SMM 10-12% high-grade NPI was 1,040 yuan/mtu (ex-factory, tax included), up 2.5 yuan/mtu MoM from the previous working day.

SMM February 6 News,

On February 6, the SMM average price of 10-12% high-grade NPI was 1,040 yuan/mtu (ex-factory, tax included), up 2.5 yuan/mtu from the previous working day. The market sentiment factor for high-grade NPI was 2.06, down 0.04 MoM; the upstream sentiment factor for high-grade NPI was 2.84, down 0.07 MoM; and the downstream sentiment factor for high-grade NPI was 1.28, flat MoM. Supply side, market offers were basically flat, with the price center showing a slight increase. Demand side, there was no large procurement demand before the holiday, but transactions were difficult to conclude at low prices. Overall, high-grade NPI prices saw a slight rebound, and significant fluctuations are unlikely to continue before the holiday.

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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