SMM January 27 news,
On January 27, the SMM average price of 10-12% high-grade NPI was 1,053 yuan/mtu (ex-factory, tax included), up 3 yuan/mtu MoM from the previous working day. The high-grade NPI market sentiment factor was 2.2, down 0.02 MoM, the upstream sentiment factor for high-grade NPI was 2.9, down 0.02 MoM, and the downstream sentiment factor for high-grade NPI was 1.49, down 0.04 MoM. Supply side, futures prices pulled back, but amid rising nickel ore prices and limited spot high-grade NPI availability, upstream offers continued to rise. Demand side, with futures pulling back, downstream steel mills adopted a cautious purchasing stance, and market transactions were sluggish. Overall, the market was sluggish, with high-grade NPI prices edging up slightly.
