SMM reported on July 24,
that on July 24, the average price of SMM 8-12% high-grade NPI was 909 yuan/mtu (ex-factory, tax included), up 1.5 yuan/mtu from the previous working day. Supply side, amid rising price centers, upstream producers continued to hold back cargoes. Despite an increase in market quotes, actual transactions remained scarce, and market supply did not increase. On the demand side, downstream procurement sentiment stabilized and slightly rebounded, with quotes adjusting downward. Overall, although actual transactions remained sluggish, the inquiry activity in the high-grade NPI market increased, and the price center shifted upward overall, indicating relatively optimistic expectations for the future market.
