SMM August 6 news,
On August 6, the SMM average price of 10-12% high-grade NPI stood at 916 yuan/mtu (ex-factory, tax included), up 2 yuan/mtu from the previous working day. Supply side, domestic smelters saw their offer center edge higher, but no large-scale transactions were concluded yet, with the market remaining in an inverted state. Most smelters were not in a hurry to sell, keeping spot cargo supply tight, though market activity improved noticeably. Demand side, some traders concluded deals at higher prices during the week, and the market generally held bullish expectations for the outlook, but major stainless steel producers remained on the sidelines. Overall, the offer center for high-grade NPI rose, but large-scale transactions had yet to emerge in the market.
