WEEKLY: China's NPI prices sink to 3-month low on stainless weakness

China's spot nickel pig iron (NPI) prices fell to a three-month low in the week of November 3-7, as deepening woes in the stainless steel sector spilled over into the raw material market, the latest Mysteel survey showed.

On November 7, Mysteel assessed the spot price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 925/mtu ($130/mtu) including delivery and the 13% VAT, down Yuan 10/mtu from a week earlier. Pressure from the broader nickel chain is mounting upstream, leaving the NPI segment grappling