WEEKLY: China's NPI prices dip to 2-month low on supply pressure

Nickel pig iron (NPI) prices in China's domestic spot markets fell further to test a two-month low during October 20-24, Mysteel's latest survey period, as mounting supply pressure from surging imports continued to weigh on the market.

On October 24, Mysteel assessed the spot price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 940/mtu ($132/mtu) including delivery and the 13% VAT, down Yuan 5/mtu from a week earlier. NPI prices continued to fall during the sample week, pressured by increased imports, Mysteel