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Home / Metal News / China Low-Grade Nickel Ore Price Advance on Rising NPI Price, SMM Reports

China Low-Grade Nickel Ore Price Advance on Rising NPI Price, SMM Reports

Mar 15, 2016 14:42

Source:SMM

Prices of low-grade nickel ore are rising in China’s domestic spot market, Shanghai Metals Market reports.

SHANGHAI, Mar. 15 (SMM) – Prices of low-grade nickel ore are rising in China’s domestic spot market, Shanghai Metals Market reports.

“The rise in low-grade nickel ore market is due mainly to recent strong gains of low-grade NPI,” SMM nickel analyst points out.

Prices of low-grade NPI have kept rising, with post-Chinese holiday gains over 100 yuan per tonne, and this, in turn, has stimulated buying activities in low-grade spot ore, SMM survey finds.

Conditions in medium and high-grade ore market show no improvement, and suppliers are unwilling to sell goods at current low prices, SMM adds.

Last week, nickel ore inventories continued falling at China's major six ports, according to SMM data.

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