SMM reported on July 28,
On July 28, the average price of SMM 8-12% high-grade NPI was 912 yuan/mtu (ex-factory, tax included), up 2 yuan/mtu from the previous working day. Supply side, the cost of upstream smelters remained inverted, and the willingness to sell had not yet improved. On the consumption side, as prices rose, some downstream players purchased more stainless steel scrap for production. Although traders continued to raise their quotes, the current acceptance of high-grade NPI prices by downstream steel mills remained poor.
