WEEKLY: China's NPI price holds steady at lows

China's nickel pig iron (NPI) market remained stable during the week of May 9-16, hovering at a more than three-month low. The stagnant price trend reflected subdued sentiment in the domestic NPI market, Mysteel Global noted.

On May 16, Mysteel assessed the price of high-grade NPI with nickel content of 7-13% in East China's Jiangsu province at Yuan 955/mtu ($132.6/mtu), unchanged from the previous week and still the lowest level since February 10. The key contradiction in the domestic NPI market lies in the fact that