SMM September 23 News,
September 23 News, SMM 10-12% high-grade NPI average price was 955 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 2.38, flat MoM. Supply side, auxiliary material prices rebounded, cost support strengthened again, smelters' offers remained firm. But demand side, downstream stainless steel enterprises found it difficult to raise selling prices, and held no optimistic expectations for October consumption, current procurement demand remained weak, with only a small amount of transactions before the holiday driving price increases, yet unable to improve the pessimistic outlook. Overall, price rise faced resistance, but cost support remained firm, high-grade NPI prices still had support at lower levels.
