Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China
at 1,090-1,120 yuan ($168-173) per nickel unit on Friday, up by 10-20 yuan per nickel unit (1.4%) from 1,080-1,100 yuan per nickel unit a week earlier.
Strength in the downstream stainless steel market served as the main driver for the gains in NPI prices this past week, with trading for the latter remaining thin.
“The [NPI] market has been quiet but the surge in stainless steel prices in the past week has boosted sentiment,” a trader in Shanghai said.
The most-traded March...