SMM December 19 news,
On December 19, the average price of SMM 10-12% high-grade NPI was 884 yuan/mtu (ex-factory, tax included), flat MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.58, up 0.01 MoM. Supply side, upstream offers remained relatively firm, with some traders transacting at high prices. Demand side, despite a sharp rise in futures, actual end-use consumption showed no improvement, and stainless steel product prices did not see significant recovery. Overall, the sharp rise in futures led to some rebound in market sentiment, but the market is still waiting for more transaction price guidance.
