SMM December 4 News,
On December 4, the average price of SMM 10-12% high-grade NPI was 881 yuan/mtu (ex-factory, tax included), down 0.5 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.74, up 0.01 MoM. Supply side, upstream sentiment to hold prices firm is gradually increasing, with most suppliers and iron plants holding back cargoes. Demand side, steel mill inventory remains high, purchasing demand is limited, and a small number of transaction prices remain low. Overall, high-grade NPI prices edged lower, but the downside room is limited.
