SHANGHAI, May 11 (SMM) – Stainless steel mills in east China raised their purchasing prices of high-grade nickel pig iron (NPI) during the week ending Friday May 11. This was due to lower NPI imports from Indonesia and less nickel scrap resources available, SMM learned.
While one mill bought at 1,020 yuan/mtu delivered earlier in the week, another mill bought at 1,030-1,040 yuan/mtu delivered in the middle of the week.
A third mill was heard looking to buy at 1,000 yuan/mtu but failed to do so.
Overall, high-grade NPI was traded about 10 yuan/mtu higher from last week on average.
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