Chinese NPI price dips despite rising cost of ore

Chinese spot nickel pig iron (NPI) prices fell slightly in the week to Friday June 19, with increased supply in the market outweighing rising raw material costs.

Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 980-990 yuan ($138-140) per nickel unit on Friday, down by 5 yuan per nickel unit (0.5%) from 985-995 yuan per nickel unit a week earlier.
"Market supplies began to grow last week, providing more choice," one buyer source said.

A trader agreed, adding that demand from the...

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