China NPI price rises on stainless steel gains; limited impact seen from Inner Mongolia's planned energy usage controls

China's nickel pig iron (NPI) price rose in the week to Friday January 8, supported by gains in the stainless steel market, sources told Fastmarkets.

Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,090-1,120 yuan ($168-173) per nickel unit on Friday, up by 10-20 yuan per nickel unit (1.4%) from 1,080-1,100 yuan per nickel unit a week earlier.
Strength in the downstream stainless steel market served as the main driver for the gains in NPI prices this past week, with trading for the latter remaining thin.
"The [NPI] market has been quiet but the surge in stainless steel prices in the past week has boosted sentiment," a trader in Shanghai said.

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