WEEKLY: China NPI prices extend gains on Indonesian ore supply crunch

China's high-grade nickel pig iron (NPI) prices extended their uptrend after the Chinese New Year (CNY) holiday ending on February 23, mainly propelled by a persistent tightness of nickel ore from Indonesia, according to Mysteel's latest survey results.

On February 27, Mysteel assessed the price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 1,085/mtu ($159/mtu) including delivery and tax, higher by Yuan 20/mtu from February 14, a substitute workday before the CNY holiday. The price rise is primarily underpinned by a sustained