SMM December 9 news,
December 9 news, the SMM average price of 10-12% high-grade NPI was 886.5 yuan/mtu (ex-factory, tax included), up 0.5 yuan/mtu MoM from the previous working day. The high-grade NPI market sentiment factor was 1.77, down 0.01 MoM. Supply side, upstream continued to hold prices firm and further raised them, market expectations for future prices rebounded somewhat, and some traders engaged in purchasing and stockpiling. Demand side, most steel mills had limited acceptance of high prices, and market transactions were mostly purchases by traders. Overall, high-grade NPI prices stopped falling and rebounded, but subsequent momentum may appear insufficient.
