SMM November 14 News,
On November 14, the SMM average price for 10-12% high-grade NPI was 905.5 yuan/mtu (ex-factory, tax included), down 1.5 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.87, down 0.02 MoM. Supply side, current high-grade NPI prices are approaching historical lows and show a continued downward trend, with traders' quoted center still gradually declining. Demand side, market inventory continues to build up without clear guidance, downstream purchasing remains cautious, and the overall market maintains quietness with transactions difficult to find. Overall, amid the off-season atmosphere, high-grade NPI prices are expected to remain under pressure.
