China’s nickel pig iron mart hit by oversupply, LME drop

Nov 26, 2013 | 12:43 PM |

Tags  stainless steel, nickel pig iron, NPI, London Metal Exchange, LME, nickel price, Jiuquan Iron & Steel

SHANGHAI — China’s nickel pig iron (NPI) market took a further hit this week as falling nickel prices and ample supply led major steel mills to continue to reduce or roll over their purchase prices for next month.

The December purchase price for high-grade NPI from China’s Jiuquan Iron & Steel (Group) Co. Ltd. is at 985 yuan ($162) per nickel unit, including delivery and half payment in an acceptance draft, sources told AMM sister publication Metal Bulletin.....





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