WEEKLY: China's NPI price languishes at 1.5-year low

China's prices for high-grade nickel pig iron (NPI) inched lower during July 7-11, staying at their lowest level since December 2023, new Mysteel data show, with the price decline linked to announcements by two domestic major stainless mills during the week lowering their purchase prices for the ferroalloy. The lower buying prices undermined market confidence, dragging down spot prices, an industry insider explained.

On July 11, Mysteel assessed the price of NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 915/mtu ($127.5/mtu) including delivery and tax, lower by Yuan 5/mtu from the previous week. According to Mysteel's survey, two trades of high-grade NPI occurred this week, including a deal made