WEEKLY: Policy premium lifts China NPI price to 8-month high

China's spot prices of nickel pig iron (NPI) surged to an eight-month high during Mysteel's most recent survey period covering January 4-9. The spot market was driven primarily by rising nickel and stainless futures prices, and escalating concerns over future nickel supply from Indonesia, industry sources told Mysteel Global.

On January 9, Mysteel assessed the spot price of high-grade NPI (7-13% Ni) in Jiangsu province at Yuan 975/mtu ($140/mtu) delivered and including 13% VAT, up Yuan 45/mtu on week. The uplift closely tracked significant gains in nickel and stainless steel futures on the Shanghai Futures Exchange (SHFE), with the