SHANGHAI, Apr. 25 (SMM) – LME nickel prices hit a low of USD 15,176/mt April 19, down 19.14% from the USD 18,770/mt recorded in February. What concerned investors most is how low NPI prices will fall along with the declining nickel prices, so that stainless steel mills can decide whether to use NPI or refined nickel for production.
The 2013 Nickel Industry Chain Summit organized by SMM in Fuzhou on May 13-15 will focus on nickel price trends in 2H this year and procurement cost control.
On the other hand, domestic nickel smelters reported difficulty in purchasing laterite nickel ore due to the changing export policies in Indonesia. In this context, smelters are facing the tough decision of whether to stay under control of the Indonesian policies or to seek for new markets and new partners.
New Caledonia in South Pacific is also rich in laterite nickel ore, with the grade of ore equal to Indonesia and the Philippines. However, as it is still a French territory and due to the difficulty in shipments, domestic companies feel hesitate to import large amount of ore from New Caledonia. As such, SMM will invite representative from New Caledonia to the summit so as to help domestic nickel companies to develop new sources for nickel ore.