WEEKLY: China's NPI prices rally on firmer offers

China's spot prices of nickel pig iron (NPI) moved up during the week of December 8-12, as suppliers raised their quotes in an effort to stem losses and support the market, the latest Mysteel survey revealed.

As of December 12, Mysteel assessed the spot price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 895/mtu ($127/mtu) including delivery and the 13% VAT, up by Yuan 5/mtu from a week ago. The price increase came as domestic smelters and traders raised their NPI