WEEKLY: Indonesia policy uncertainty supports China NPI prices

China's prices of high-grade nickel pig iron (NPI) remained stable at high levels during Mysteel's May 18-22 survey week, supported by firm ore costs and market concerns about potentially tighter NPI availability from Indonesia.

On May 22, 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, flat from a week earlier. Cost-side support came from stable Philippine nickel ore prices this week, a factor that helped keep Chinese NPI