China’s NPI price reaches seven-year high; 1.5% nickel ores at all-time high

China’s nickel pig iron (NPI) price reached a seven-year high in the week to Friday July 30 amid a bullish stainless steel market and tight supply, while 1.5% nickel content ores hit an all-time high, Fastmarkets learned.

Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,400-1,430 yuan ($216.5-221.2) per nickel unit on July 30, up by 50 yuan (3.7%) from 1,350-1,380 yuan one week ago. China’s NPI price has reached its highest level since June 2014 on tight supply due to boosted demand from stainless steel mills, sources said. Spot trading has also started to reduce; most participants have finished stockpiling for now, sources added. “Stainless steel mills seemed to be crazy over...

Published

Yingchi Yang

August 02, 2021

08:54 GMT

Shanghai