SMM December 23 News,
On December 23, the average price of SMM 10-12% high-grade NPI was 889 yuan/mtu (ex-factory, tax included), up 4 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.62, up 0.03 MoM. Supply side, market sentiment improved significantly today, driven by nickel prices and stainless steel prices, some upstream iron plants sold at high prices. Demand side, although leading stainless steel mills had no new purchase plans, there was some pre-holiday stockpiling and early release of post-holiday bullish demand, with some traders actively purchasing, driving the price center upward. Overall, market sentiment improved significantly, upstream players held prices firm, and high-grade NPI prices continued to rise.
