WEEKLY: China's NPI prices keep stable on cost support

Chinese prices of nickel pig iron (NPI) were stable this week, with the price of 8-10% grade NPI in East China's Jiangsu province under Mysteel's assessment staying at Yuan 1,105/mtu ($155/mtu) including delivery and the 13% VAT as of June 13, unchanged from one week before.

Domestic NPI smelters refused to concede any more from their offering prices of the ferroalloy, as the firm prices of smelting raw materials had squeezed their profit margins, sources said. However, Chinese NPI prices were still under pressure, as stainless producers tried to lower their procurement prices given their thin