WEEKLY: China NPI prices rise on stainless spike

China's domestic spot prices of high-grade nickel pig iron (NPI) climbed this week, a trading week shortened by the country's Dragon Boat Festival holiday over June 19-21.

On June 18, Mysteel assessed the price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 1,165/mtu ($172/mtu) including delivery and tax, up by Yuan 5/mtu from a week earlier. The price gain was driven by a sharp rebound in stainless steel futures prices, a