Proposal to launch nickel pig iron CIF China price assessment: pricing notice

Nickel pig iron (NPI) is a key feedstock material used for stainless steel production, and the CIF has grown to become one of the mainstream trading methods for the Chinese market. The proposed price assessment will allow Fastmarkets to bring more transparency to the Chinese NPI market.

Fastmarkets has been tracking spot and DDP China NPI prices since 2014 and FOB Indonesia NPI price since 2023.

The proposed specifications are as follows:

Nickel pig iron, nickel content 10-14%, cif China, yuan/nickel unit price
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: cif main ports China
Timing: spot
Unit: Yuan/nickel unit
Payment terms: LC, Cash, other payment terms normalized
Publication: Weekly, Friday at 3pm London time

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

The consultation period for this proposed launch starts from July 15 and will end on August 12. The launch will take place, subject to market feedback, on August 15.

To provide feedback on this proposal or if you would like to provide price information by becoming a data submitter to this price, please contact Dylan Duan, Laura Li by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Dylan Duan/Laura Li, re: nickel pig iron, nickel content 10-14%, cif China.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

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