SHANGHAI, May 27 (SMM) – Trading in China’s nickel ore market was light on May 26, and prices are expected to hold largely stable, Shanghai Metals Market foresees.
Traders offered CIF prices for Ni 1.8% ore at $68 per wet tonne, but domestic NPI producers only accepted prices at $65, leaving trading muted due to the gap between the two, SMM sources reported.
“Prices of nickel ore in China’s market are expected to hold steady,” said SMM’s nickel team, adding no big impact on market supply from production suspension at Philippines’s four nickel mines.
The price of Ni 0.9-1.0% ore was 165-185 yuan, 260-360 yuan for Ni 1.4-1.6%, and 500-570 yuan for Ni 1.8-1.9% ore, according to SMM data.
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