WEEKLY: China's NPI prices bottom as sellers hold back

China's spot prices of nickel pig iron (NPI) held the line during the week of December 1-5, as many suppliers withdrew from the market in response to ultra-low price levels, the latest Mysteel survey revealed.

On December 5, Mysteel assessed the spot price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 890/mtu ($126/mtu) including delivery and the 13% VAT, flat from a week earlier. "The depressed price level has prompted smelters to suspend lump-sum sales and significantly dampened traders' willingness