NPI prices exceed refined nickel in China
Nickel pig iron prices in China are now above those for refined nickel, following a rally in August when stainless steel mills increased purchases.
Mainstream high-grade NPI (Ni content 10-15%) is being traded at 1,010-1,020 yuan ($164-166) per nickel unit, up nearly 10% from the level seen in early August, sources in China said. The price is around 4,000-5,000 yuan higher than the current refined nickel level, which is unusual for the market.
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