SHANGHAI, Apr. 22 (SMM) – Nickel ore prices are expected to continue falling for the foreseeable future, Shanghai Metals Market predicts.
“The price of Philippine nickel ore, especially high-grade ore, will continue falling due to supply glut,” SMM’s nickel analyst said at SMM Nickel Summit on Apr. 17-18.
Nickel ore inventories at China’s major ports are enough for more than half-year’s consumption, the analyst noted at the Summit.
New arrivals of shipments from the Philippines have been reported recently following the end of monsoon season there.
“The downward room of medium-grade ore will be relatively small as the price is nearing costs,” the analyst added.
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