Rise in nickel prices fails to stimulate Chinese NPI market
Chinese nickel pig iron (NPI) market remains subdued as major steel mills have cut their purchase price for next month, with the recent rally in nickel prices lending little support.
The latest purchase price for high-grade NPI (Ni content 10-15%) from Taigang Stainless Steel was at 975 yuan ($159) per nickel unit, down 15 yuan from the October level. Baosteel Stainless’ November price was down 20 yuan month-on-month at 980 yuan per nickel unit respectively, sources told Metal Bulletin. The prices are including delivery and payment in cash.
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