SMM December 5 News,
On December 5, the SMM average price for 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 1.75, up 0.01 MoM. Supply side, upstream sentiment to hold prices firm continued to rise, with transaction prices from some iron plants showing a significant rebound. Demand side, most steel mills had limited acceptance of high prices, with most market transactions being purchases by traders. Overall, high-grade NPI is expected to find it difficult to continue falling.
