SHANGHAI, Apr. 11 (SMM) -- SMM sources report that overseas nickel ore prices began to fall recently, since some miners in Indonesia were eager to sell goods before May 8 when the ban on nickel ore exports is implemented.
Ship owners were unwilling to enter Indonesian ports in order to minimize risks due to Indonesian policy restrictions, creating difficulties for nickel ore miners to find ships.
One trader failed to find ships after negotiating with ship owners. Ship supply shortage allows some miners to become willing to make some concession in prices when ships are available.
At present, prices for Indonesian nickel ore (Ni 1.8%) are between USD 44-47/wmt, down USD 3/wmt compared with previous USD 47-50/wmt.