WEEKLY: Renewed supply concerns underpin China NPI prices

China's domestic spot prices of high-grade nickel pig iron (NPI) held firm over the past week, buoyed by improved market sentiment and renewed supply-side anxieties from Indonesia, Mysteel Global learned.

On July 17, Mysteel assessed high-grade NPI (7-13% Ni) in East China's Jiangsu province at Yuan 1,150/mtu ($170/mtu) including delivery and tax, unchanged from a week earlier. The market mood brightened as nickel and stainless steel futures on the Shanghai Futures Exchange (SHFE) rallied during the survey week. On July