SMM October 21 News,
On October 21, the SMM average price of 10-12% high-grade NPI was 936 yuan/mtu (ex-factory, tax included), down 2 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.27, up 0.02 MoM. Supply side, as costs rise and profit margins remain low, upstream enterprises' willingness to sell has weakened, but under the influence of terminal factors, market offers remain under pressure. Demand side, under stainless steel sales pressure, downstream stainless steel enterprises continue to drive down prices; in a bearish atmosphere, some traders are eager to sell, prompting low-price transactions. Overall, end-use consumption remains weak, and market confidence is insufficient, with further downside room expected for high-grade NPI prices.
