SMM Jan. 15 news,
Jan. 15 news, SMM 10-12% high-grade NPI average price 1,012.5 yuan/mtu (ex-factory, tax included), up 30 yuan/mtu MoM from the previous working day. High-grade NPI market sentiment factor 2.06, up 0.06 MoM; high-grade NPI upstream sentiment factor 2.41, up 0.15 MoM; high-grade NPI downstream sentiment factor 1.71, down 0.04 MoM. Supply side, with futures rising again, upstream holds prices firm, offers generally increased. Demand side, downstream transactions and intended prices still show a significant gap from market offers, acceptance of high prices limited. Overall, back-and-forth negotiations between upstream and downstream stage, market may find transactions difficult in the short term.
