UTC+8 ( BJT)

China NPI prices fall to 1.5-mth low on thin demand

ABSTRACT

Chinese prices of nickel pig iron (NPI) continued to weaken this week due to thin demand from stainless steel producers. According to Mysteel's assessment, the price of 8-12% grade NPI in East China's Jiangsu province had fallen to Yuan 1,615/mtu ($239/mtu) including delivery and the 13% VAT as of May 17, sliding by Yuan 35/mtu on week and hitting the lowest since March 23.
The decrease was mainly blamed on declining NPI consumption among stainless producers, as some stainless mills have decided to reduce production of 300-series stainless this month, given their rising production costs and depressed demand from end-users, Mysteel Global learned.   Mysteel's other survey among China's 33 stainless producers indicated that total stainless

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