WEEKLY: Weak stainless sector weighs further on China's NPI prices

China's prices for high-grade nickel pig iron (NPI) continued to trend downward over June 12-19, as stainless steelmakers faced steeper losses and tighter budgets, Mysteel Global reported.

On June 19, Mysteel assessed the price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 940/mtu ($130.7/mtu) including delivery and tax, lower by Yuan 15/mtu from the previous week. Buying interest from stainless steelmakers remained subdued over the past week, with Mysteel hearing of