SMM December 15 News,
On December 15, the SMM average price for 10-12% high-grade NPI was 887.5 yuan/mtu (ex-factory, tax included), down 1 yuan/mtu MoM from the previous working day. The high-grade NPI market sentiment factor was 1.66, down 0.01 MoM. Supply side, upstream held prices firm but transactions were difficult, with sporadic news of price cuts for concluded deals, yet overall offers were scarce. Demand side, pressured by weak end-use consumption, downstream steel mills' purchase willingness remained sluggish, with only some restocking for rigid demand. Overall, market transactions were weak, and high-grade NPI lacked support, with prices trending lower.
