SMM September 18 News,
September 18 News, SMM 10-12% high-grade NPI average price was 954.5 yuan/mtu (ex-factory, tax included), up 0.5 yuan/mtu MoM from the previous working day. The high-grade NPI market sentiment factor was 2.42, down 0.01 MoM. Supply side, auxiliary material prices ended their decline, cost support coupled with traditional peak season support kept smelter offers firm. Demand side, downstream October stockpiling was largely completed, with few fixed-price purchases recently, and market trading was quiet. Overall, price increases faced resistance, but with stainless steel continuing destocking, prices are expected to remain firm.
