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China NPI prices keep stable on support of firm cost

Chinese nickel pig iron (NPI) prices were stable over the past week after rising for the prior two months, as domestic smelters were reluctant to lower their offering prices given that nickel concentrate prices remain firm, despite the pressure of falling stainless prices, Mysteel Global notes.
As of September16,the price of 8-15% grade NPIin East China’s Jiangsu provincewas still at its 10-month high of Yuan1,180/mtu($174/mtu) including delivery and 13% VAT,the same level from one week before, according toMysteel’s database. “Many stainless producers are very cautious about stocking up more NPI at the moment after seeing the weakness of stainless prices,” a market source

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