SMM October 23 News,
On October 23, the average price of SMM 10-12% high-grade NPI was 934 yuan/mtu (ex-factory, tax included), down 1.5 yuan/mtu WoW. The market sentiment factor for high-grade NPI was 2.22, down 0.04 WoW. Supply side, as the peak season effect fades, the offer center of upstream enterprises gradually shifts downward. Demand side, current stainless steel sales pressure remains hard to reduce; at current NPI prices, stainless steel production is already in losses, and stainless steel scrap is significantly more economical than high-grade NPI, also putting pressure on high-grade NPI prices. Overall, high-grade NPI prices continue to fall, and the downtrend is expected to persist.
