WEEKLY: China's NPI prices retreat as sentiment softens

Chinese prices of nickel pig iron (NPI) retreated somewhat over the past week with the softening sentiment driven by the decrease in global nickel prices and the weakness in domestic stainless prices, Mysteel Global learned.

As of May 17, the price of 8-10% grade NPI in East China's Jiangsu province was assessed by Mysteel at Yuan 1,140/mtu ($163/mtu) including delivery and the 13% VAT, losing by Yuan 5/mtu from one week before. Global nickel prices lost ground recently, dampening the sentiment in domestic NPI market