China's NPI price retreats amid futures weakness; nickel ore price also down

China's nickel pig iron (NPI) price fell in the week to Friday March 12, pressured by a lack of spot activity and weakness in the London Metal Exchange three-month nickel price.

Fastmarkets assessed the nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,140-1,160 yuan ($175-178) per nickel unit on March 12, down by 40-50 yuan (3.8%) per nickel unit from 1,180-1,210 yuan per nickel unit a week earlier.
Activity in China's NPI market has been muted since the LME nickel price started to drop early this month, and this together with falling stainless steel prices in the country, has weighed on the NPI market, sources told Fastmarkets.

The LME three-month nickel contract ended the official session on March 12 at $16,202...

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