SMM August 27 News,
On August 27, the SMM 10-12% high-grade NPI average price was 940.5 yuan/mtu (ex-factory, tax included), up 6 yuan/mtu from the previous working day. The high-grade NPI market sentiment factor was 2.4, up 0.03 MoM. Recently, the bidding and inquiry sentiment of both upstream and downstream has increased, with market activity continuously rising. Supply side, upstream cost lines remain high, showing a clear reluctance to budge on prices. Demand side, stainless steel consumption is slowly recovering; although peak season performance did not meet expectations, there is still some optimism for September. Overall, purchases by mainstream steel mills and the rebound in market activity are expected to provide support for high-grade NPI.
