WEEKLY: China NPI price declines accelerate

The downturn in prices for high-grade nickel pig iron (NPI) in China's domestic spot market deepened this week, as stainless steel mills pushed harder for lower prices of the ferroalloy.

On September 11, Mysteel assessed the price of high-grade NPI with 7-13% nickel content in East China's Jiangsu province at Yuan 1,100/mtu ($164/mtu) including delivery and tax, lower by Yuan 30/mtu from the prior week. On the cost side, weaker ore prices further eroded the cost support for NPI prices.