[SMM Analysis: Will the Overall Stable Nickel Ore Prices See New Fluctuations in Late Month?]
This week, the global nickel ore market exhibited an overall stable trend, with slight differences in market performance between major producing countries, the Philippines and Indonesia, drawing widespread attention within the industry.
In the Philippines, nickel ore prices remained generally stable. A new round of bidding in the northern Zambales region has garnered significant market attention. Currently, bidding for medium-grade nickel ore in this region shows relatively limited trading volume. Specifically, the FOB price for nickel ore with a grade of 1.3% remains stable at $29/wmt, showing no significant changes compared to previous levels. However, with the continued decline in high-grade NPI prices in China, nickel ore prices are facing further downward pressure. Although Chinese smelters have the intention to restock, they are constrained by high costs and are seeking lower purchasing prices. Against this backdrop, slight price fluctuations in Philippine laterite nickel ore are anticipated in the future.
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