WEEKLY: China's NPI prices gain ground on robust mill restocking

China's prices of high-grade nickel pig iron (NPI) accelerated their upward trend during Mysteel's April 30-May 9 survey week, driven by concentrated restocking from stainless steel mills around the country's May Day holiday over May 1-5.

As of May 9, Mysteel assessed the price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 1,160/mtu ($171/mtu) including delivery and tax, up Yuan 15/mtu from April 30, the last working day prior to the holiday. Also shoring up spot prices was tighter availability