WEEKLY: China's NPI prices drop further as stainless market weakens

China's prices for high-grade nickel pig iron (NPI) slumped during June 6-13, dragged lower by deepening losses in the stainless steel sector and shrinking seasonal demand, Mysteel Global noted.

On June 13, Mysteel assessed the price of high-grade NPI with 7–13% nickel content in East China's Jiangsu at Yuan 955/mtu ($/t), including tax, lower by Yuan 15/mtu from the previous week. Trading activity was notably sluggish over the past week. Mysteel recorded only two deals as of Friday, with a