Rebound in LME nickel fails to support China’s NPI prices; nickel ores also down

China’s nickel pig iron (NPI) prices dropped in the week to Friday April 30, despite the rebound in LME nickel, with nickel ore prices also falling due to inactivity in the stainless steel market, source told Fastmarkets.

Fastmarkets' price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,060-1,080 yuan ($163.80-166.90) per nickel unit on April 30, down by 10-20 yuan (1.4%) from 1,070-1,100 yuan per nickel unit a week earlier.
NPI prices have fallen for the past three weeks despite the recent bullishness of nickel on the London Metal Exchange.

The LME nickel three-month price closed at $17,457 per tonne on Thursday...

Published

Yingchi Yang

April 30, 2021

14:20 GMT

Shanghai