SHANGHAI, May 7 (SMM) – Trading in China’s nickel ore market was quiet on May 7 due to strong caution, Shanghai Metals Market survey shows.
Chinese NPI producers were wary of purchases due to slow response in NPI market. Prices of nickel ore held stable on May 7 as a result.
The price of Ni 0.9-1.0% ore was 170-190 yuan, 240-340 yuan for Ni 1.4-1.6%, and 490-560 yuan for Ni 1.8-1.9% ore, according to SMM data.
Ore suppliers took a bullish bet on high-grade ore prices, with no offers heard today. CIF offers were $36-37 per wmt for medium-grade ore (Ni 1.5%), SMM survey finds.
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