A stainless steel plant in east China settled its purchasing price of high-grade NPI at 1,130 yuan/mtu delivered to plant with tax

SMM Morning Comments (Jul 6)

SHANGHAI, Jul 6 (SMM) &ndash; A stainless steel plant in east China settled its purchasing price of high-grade nickel pig iron (NPI) in a tender this week, at 1,130 yuan/mtu delivered to plant with tax included.&nbsp;

The price was 40 yuan/mtu higher from last week, as supply remained tight on <a href="https://news.metal.com/newscontent/100808580/Environmental-probes-in-Jun-to-affect-126-of-NPI-output/">month-long environmental reviews across China</a>. Procurement volume stood at 1,000 mt, SMM learned.&nbsp;

As of Friday July 6, the spot price of high-grade NPI averaged at 1,090 yuan/mtu, compared with 1,080 yuan/mtu last Friday, SMM data showed.&nbsp;