China's NPI prices keep stable, sentiment improves

Chinese prices of nickel pig iron (NPI) have kept stable amid improved market sentiment this week, with the price of 8-10% grade NPI in East China's Jiangsu province under Mysteel's assessment staying at Yuan 1,270/mtu ($182/mtu) including delivery and the 13% VAT as of September 6, the same level from one week before.

In tandem, China's nickel and stainless futures prices have also strengthened this week, boosting the positive sentiment in the domestic market, Mysteel Global learned. On September 6, the most-traded nickel October contract on the Shanghai Futures Exchange (SHFE) closed the daytime trading session at Yuan 174,800/t, higher by Yuan 10,040/t