WEEKLY: China NPI prices soar on Indonesia quota fears, bullish sentiment

China's spot prices of nickel pig iron (NPI) surged during the week to December 26, as fears of tighter nickel supply from Indonesia lifted market sentiment, Mysteel's latest survey showed.

On December 26, Mysteel assessed the spot price of high-grade NPI (7-13% Ni) in Jiangsu province at Yuan 915/mtu ($130/mtu) delivered and including 13% VAT, up Yuan 20/mtu on week. Market sources reported that actual offers had climbed even higher. "Boosted by sentiment, spot offers have posted significant gains, with