China NPI price up on pre-holiday stockpiling; Fe-Ni market still in deep discount

The Chinese market price of nickel pig iron (NPI) rose in the week to Friday January 22 amid improved spot activity ahead of the Chinese New Year holiday (February 11-17), sources said.

Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,110-1,140 yuan ($171-176) per nickel unit on Friday, up by 20-40 yuan per nickel unit or 2.7% from 1,090-1,100 yuan per nickel unit a week earlier.
Chinese stainless steel mills built up stocks ahead of the Chinese New Year holiday in mid-February, which helped improve spot trading last week, Fastmarkets heard.

“Pre-holiday stockpiling activity improved spot trading but it will slow down [in the coming weeks] because the holiday is just around the corner, with most market participants already completing their stock...

Published

Sally Zhang

January 25, 2021

17:00 GMT

Shanghai