Asian NPI prices gain amid supply constraints, production adjustments

Asian nickel pig iron (NPI) prices have risen since the start of the year, reaching a year-high of $135.18/t. Chinese portside NPI (grade 13%>Ni>10%) prices saw an increase of RMB 10/t ($/t) w-o-w reaching RMB 970-980/t ($133-135/t), while Indonesia FOB prices stood at $115/t. The increase was driven by declining Indonesian nickel ore quality, production adjustments, and limited high-grade nickel ore stocks.