SHANGHAI, Feb. 6 (SMM) – The Indonesian government announced in late January that it had raised its benchmark nickel ore export price for February by 0.41-0.45% to USD 14.57-39.86/wmt based grade of nickel ore. The benchmark export prices are now as follows:
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Benchmark Nickel Ore Export Prices 2013 Unit: USD/wmt
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Grade
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January
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February
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<1.5%
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14.51
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14.57
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1.5%-1.8%
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24.03
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24.13
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1.8%-2.0%
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31.25
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31.39
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≥2.0%
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39.68
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39.86
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SMM believes the higher benchmark export price for nickel ore in February and the strong rally in LME nickel prices helped bolster quotations of traders. However, as NPI prices remained low, any increase in nickel ore was limited by cost pressure at NPI producers.
