WEEKLY: China's NPI market softens further, output to dip in May

China's nickel pig iron (NPI) market resumed its downward tack after the country's five-day Labour Day holiday ended on May 5, as stainless steelmakers maintained their dominance in pricing negotiations amid ample supply of the ferroalloy, Mysteel Global observed.

On May 8, Mysteel assessed the price of high-grade NPI with 7-13% nickel content at Yuan 955/mtu ($131.8/t), down Yuan 25/mtu from April 30 and marking a three-month low. Actual transaction prices were reputedly even lower than this spot level. On Thursday, a major stainless producer based in South China's