SMM August 28 News,
On August 28, the SMM 10-12% high-grade NPI average price was 940.5 yuan/mtu (ex-factory, tax included), unchanged from the previous working day. The market sentiment factor for high-grade NPI was 2.42, up 0.02 MoM. Recently, trading volume has continued to increase, but most downstream inventories are relatively sufficient, and procurement demand is not urgent. Meanwhile, smelter cost lines have been continuously rising, suggesting that high prices for high-grade NPI may find support at the bottom.
