China's nickel pig iron (NPI) price narrowed upward in the week to Friday June 11, driven by strong demand from Chinese stainless steel mills, while nickel ore prices also rose, Fastmarkets has heard.
Fastmarkets' price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,165-1,180 yuan ($182.30-184.70) per nickel unit on June 11, narrowing upward by 15 yuan (0.6%) per nickel unit from 1,150-1,180 yuan per nickel unit a week earlier.
Demand for NPI has been strong due to high production levels at Chinese stainless steel mills in June supporting the NPI price, sources told Fastmarkets.
"Stainless steel mills are...