SMM September 19 news,
On September 19, the SMM average price of 10-12% high-grade NPI was 954.5 yuan/mtu (ex-factory, tax included), flat from the previous working day. The market sentiment factor for high-grade NPI was 2.40, down 0.02 MoM. Supply side, auxiliary material prices rebounded, cost support strengthened again, smelters held back cargoes, and offers remained firm. Demand side, downstream stainless steel enterprises found it difficult to raise selling prices, and had no optimistic expectations for October consumption, with current procurement demand weak. Overall, price increases faced resistance, but cost support strengthened again, providing a floor for high-grade NPI prices.
