Launch of FOB Indonesia nickel pig iron price

Fastmarkets launched this new nickel pig iron (NPI) price to provide greater transparency to the value of NPI produced in Indonesia.

Indonesia is forecast to produce 1,300,000 tonnes of NPI in 2023, representing 40% of the global total nickel production.

NPI is a key feedstock material in the production of stainless steel, which represents 70% of global demand for nickel.

This price launch is part of a further launch of FOB Indonesia nickel prices, which includes a new FOB MHP price.

The price specification for the new price will be as follows:

MB-FEN-0005 Nickel pig iron, 10-14% ni content, FOB Indonesia, $/nickel unit
Quality: lump, Ni 10-14%, Fe 80%, P 0.04% max, S 0.4% max, Si 4.5% max, C 4% max
Quantity: min 500 tonnes
Location: FOB main ports Indonesia
Timing: Spot
Unit: US Dollar/nickel unit
Payment terms: Cash
Publication: Daily, 4pm London

This price will be part of the Fastmarkets steel raw materials package.

To provide feedback on this FOB Indonesia NPI price or if you would like to provide price information by becoming a data submitter to this price, please contact Callum Perry by email at: pricing@fastmarkets.com.

Please add the subject heading FAO: Callum Perry, re: FOB Indonesia NPI price”.

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To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.