SMM December 30 news,
On December 30, the SMM average price of 10-12% high-grade NPI was 912.5 yuan/mtu (ex-factory, tax included), up 2 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 1.71, up 0.03 MoM. Supply side, bullish sentiment has not subsided, and upstream enterprises continue to hold prices firm. Demand side, with the release of tender prices by mainstream steel mills, market activity increased to some extent, but differences between upstream and downstream enterprises persist, and currently there are no large-volume transactions in the market. Overall, the contradiction between upstream and downstream enterprises is significant, and high-grade NPI prices continue to rise but the rate of increase shows a slowdown.
