SMM December 16 news,
December 16 news, SMM 10-12% high-grade NPI average price 886.5 yuan/mtu (ex-factory, tax included), down 1 yuan/mtu MoM from the previous working day. High-grade NPI market sentiment factor 1.62, down 0.04 MoM. Supply side, domestic upstream smelters underwent maintenance and production cuts, yet overall market supply remained high. Demand side, impacted by the futures market slump, downstream selling prices were dragged down, downstream purchase willingness weak, transactions hard to find. Overall, market transactions sluggish, high-grade NPI lacking support, prices weakening.
