The Chinese market price of nickel pig iron (NPI) rose in the week to Friday January 22 amid improved spot activity ahead of the Chinese New Year holiday (February 11-17), sources said.
Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,110-1,140 yuan ($171-176) per nickel unit on Friday, up by 20-40 yuan per nickel unit or 2.7% from 1,090-1,100 yuan per nickel unit a week earlier."Pre-holiday stockpiling activity improved spot trading but it will slow down [in the coming weeks] because the holiday is just around the corner, with most market participants already completing their stock...