WEEKLY: Margins for China's NPI smelters turn profitable after four months of losses

Over the past month, China's prices for high-grade nickel pig iron (NPI) have increased no fewer than nine times, pushed higher by firm support from the nickel ore market and strong demand from stainless steelmakers. These sustained gains have finally returned domestic NPI smelters to profitability after four months of losses, Mysteel Global observed.

As of March 18, Mysteel assessed the price of 7-13% grade NPI in East China's Shandong province at Yuan 1,020/mtu ($140.9/mtu), including delivery and 13% VAT, marking a further Yuan 25/mtu increase from a week earlier. According to Mysteel's assessment, a major NPI smelter in Shandong, affiliated with Taiyuan Iron