WEEKLY: China's NPI prices stay under pressure

Chinese nickel pig iron (NPI) prices stayed under pressure this past week, with the price of 8-10% grade NPI in East China's Jiangsu province under Mysteel's assessment reaching Yuan 1,015/mtu ($140/mtu) including the delivery and the 13% VAT as of November 12, down by Yuan 20/mtu from one week earlier.

The further decrease was mainly due to steelmakers' lower buying prices, which put great pressure on the spot market, Mysteel Global learned. "The NPI procurement price of a major steel mill in southern China fell to Yuan 1,010/mtu last Friday," a market source in Shanghai said, adding that domestic stainless