SMM July 25 news,
On July 25, the SMM average price of 8-12% high-grade NPI was 910 yuan/mtu (ex-factory, tax included), up 1 yuan/mtu from the previous working day. Supply side, despite the rise in the price center, upstream smelters still faced cost inversion, resulting in weak willingness to sell. Demand side, as prices retreated while end-use consumption showed no significant improvement, downstream steel mills had limited acceptance of current prices. Overall, the price center continued to climb, but both upstream and downstream showed low willingness to transact at current levels, with most fixed-price deals dominated by traders.
