China's NPI market remains bullish; FeNi discount narrows

The domestic nickel pig iron (NPI) price rose in the week to Friday June 25 in an active spot market while the ferro-nickel price also went up due to a bullish stainless steel outlook, sources told Fastmarkets.

Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,200-1,210 yuan ($185.50-187.10) per nickel unit on Friday, up by 15-25 yuan (1.7%) from 1,175-1,195 yuan per nickel unit a week earlier.
Rising demand is being driven by a bullish stainless steel market ahead of the third quarter, which is traditionally when stainless steel prices strengthen.

Fastmarkets assessed the price of stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi) at 16,900-17,500 yuan per tonne on June 24, up...

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