WEEKLY: China NPI market firms amid thin trading

China's spot prices of domestic high-grade nickel pig iron (NPI) remained steady over the past week despite thin trading, as tight spot supplies and production cost support offset bearish sentiment from falling futures markets.

On June 5, 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. Sentiment took a hit from a sharp decline in Shanghai nickel and stainless steel derivatives. On June 4,