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WEEKLY: China's NPI price tumbles further to 5-month low

ABSTRACT

Chinese nickel pig iron (NPI) prices under Mysteel's assessment trended further downward this week, with the price of 8-10% grade NPI in East China's Jiangsu province losing another Yuan 50/mtu ($7.5/mtu) on week to reach a five-month low of Yuan 1,400/mtu including delivery and the 13% VAT as of June 29.
Pessimism pervaded China's NPI market this week, Mysteel Global noted, as stainless mills may severely curtail their production in July while the supply of NPI still exceeds demand.   Many stainless producers have announced plans to reduce output, because poor demand has seen stainless prices keep falling, impacting the mills' margins when

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