SMM November 25 News,
On November 25, the SMM average price for 10-12% high-grade NPI was 887 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 1.85, up 0.02 MoM. Supply side, current supply remains stable, but upstream acceptance of low prices is low, with most suppliers showing weak willingness to sell. Demand side, guided by the tender prices of mainstream steel mills, downstream stainless steel mills have released some procurement demand, with transactions occurring throughout the week. Overall, both upstream and downstream face consumption and loss pressures during the off-season, and amid the supply-demand imbalance, high-grade NPI prices are expected to remain in the doldrums.
