WEEKLY: China NPI prices edge lower amid client buying pushback

China's domestic spot prices of high-grade nickel pig iron (NPI) edged lower this past week, as stainless steel mills pushed for lower purchase prices while cost-side support showed signs of loosening, Mysteel Global learned.

On July 10, Mysteel assessed high-grade NPI (7-13% Ni) in East China's Jiangsu province at Yuan 1,150/mtu ($169/mtu) including delivery and tax, lower by Yuan 10/mtu from a week earlier. A major stainless steelmaker in South China concluded a deal on July 9 at Yuan 1,120/mtu portside price including VAT,