SMM December 12 news,
December 12 news, SMM 10-12% high-grade NPI average price 888.5 yuan/mtu (ex-factory, tax included), flat MoM from the previous working day. High-grade NPI market sentiment factor 1.67, down 0.03 MoM. Supply side, upstream offers generally increased, but sales were difficult, most market trading centered around the average price, spot order trading volume generally low. Demand side, suppressed by weak end-use consumption, downstream steel mill purchase willingness remained sluggish, most steel mills found prices above 900 yuan/mtu difficult to accept. Overall, significant upstream-downstream contradictions in the market, high-grade NPI prices held steady.
