Chinese NPI price rises on higher raw material costs, large purchases by stainless steel mills

The price of nickel pig iron (NPI) in China rose in the week to Friday July 31, supported by active buying from stainless steel mills, firm nickel ore prices and strength in London Metal Exchange nickel futures.

Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 990-1,000 yuan ($142-143) per nickel unit on Friday July 31, up by 20 yuan per nickel unit (2.1%) from 970-980 yuan per nickel unit a week earlier.
“Several major mills entered the market in the last week of July, with large deals reported at around 1,000 yuan, [which is] buoying market sentiment,” a buyer source said.

“Profits at stainless steel mills are improving, and this has led to...

Published

Sally Zhang

August 03, 2020

09:47 GMT

Shanghai