WEEKLY: Decline in China's NPI price finally ends

China's high-grade nickel pig iron (NPI) market has finally emerged from its nearly two-month-long decline, Mysteel's latest assessment for the ferroalloy shows, with signs of a potential supply cut among domestic smelters helping to ease oversupply pressures.

On May 23, Mysteel assessed the price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 965/mtu ($134.1/t) including tax, up by a notable Yuan 15/mtu from the previous week. The rebound followed comments from traders that a major stainless producer based in East China,