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...
