SMM December 22 News,
On December 22, the SMM average price for 10-12% high-grade NPI was 885 yuan/mtu (ex-factory, tax included), up 1 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.59, up 0.01 MoM. Supply side, upstream offers remained relatively firm, with some traders executing transactions at high prices. Demand side, futures rose, but actual end-use consumption showed no significant improvement yet, with the market only releasing some rigid pre-holiday stockpiling demand. Overall, the sharp rise in futures drove a certain rebound in market sentiment, and the price center for high-grade NPI moved upward, but current market trading volume remained low.
