SMM October 20 News,
On October 20, the average price of SMM 10-12% high-grade NPI was 938 yuan/mtu (ex-factory, tax included), flat MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.25, down 0.05 MoM. Supply side, as costs rise and profit margins remain low, upstream enterprises' willingness to sell has weakened, but under the influence of the terminal, market offers remain under pressure. Demand side, under stainless steel sales pressure, downstream stainless steel enterprises continue to drive down prices. Overall, with end-use consumption suppressing from above and high production costs providing support below, high-grade NPI prices are holding steady temporarily, but given weak end-use consumption, prices are expected to remain under pressure in the future.
