Nickel Ore Prices to Fall in China, SMM Foresees, Despite Continuous Declines in Inventories

SHANGHAI, Jan. 17 (SMM) – Prices for medium and high-grade nickel ore are expected to fall this week in China’s domestic market, Shanghai Metals Market predicts.

"Trading sentiment in the medium and high-grade nickel ore market is very low, as domestic high-grade NPI producers are reluctant to make purchases," SMM nickel analyst says.

China Nickel Ore Inventories Keep Falling by More than 300,000 Wmt, SMM Reports

SMM survey finds that domestic NPI producers pushed for lower procurement price for ores as falling prices of high-grade NPI squeezed their profits, creating difficulties in market transactions. 

In the low-grade nickel ore market, prices are expected to hold largely stable thanks to cost support, SMM adds. 

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