WEEKLY: China's NPI prices edge up, market activity stronger

China's market for high-grade nickel pig iron (NPI) showed slight upward momentum during May 30-June 6, as major stainless steelmakers resumed raw material procurement following the country's three-day Dragon Boat Festival holiday, which ended on June 2, Mysteel Global has learned.

On June 6, Mysteel assessed the price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 970/mtu ($135/t) including tax, up Yuan 5/mtu from the previous week. The slight price increase was largely driven by a series of spot purchases by Delong Steel, a major