SMM November 11 News,
On November 11, the SMM average price for 10-12% high-grade NPI was 912 yuan/mtu (ex-factory, tax included), down 2.5 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.94, down 0.04 MoM. Supply side, as high-grade NPI prices continued to fall, upstream willingness to sell decreased, with only a few traders achieving small transactions at low prices, but the price center continued to decline. Demand side, current downstream inventory is high, port inventory is also at high levels, downstream enterprises are cautious in purchasing, and market trading activity remains sluggish. Overall, amid the off-season, the market atmosphere is quiet, and high-grade NPI prices are expected to remain under pressure.
