SMM November 13 News,
On November 13, the SMM average price for 10-12% high-grade NPI was 907 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 1.89, down 0.03 MoM. Supply side, some traders continued to sell at low prices, pushing the transaction center lower, and offers from NPI plants also declined. Demand side, downstream inventory remains high, port inventory is also elevated, and downstream enterprises are cautious in purchasing, making it difficult to see large-volume transactions in the market. Overall, amid the off-season atmosphere, high-grade NPI prices are expected to remain under pressure.
