SHANGHAI, Mar. 25 (SMM) – Global Ferronickel Holdings Inc. may increase its output if nickel prices sustain a rebound, company officials said on Mar. 18.
“We think we are already seeing signs of recovery in certain sectors in China, the top market, such as property market,” Dante Bravo, head of Global Ferronickel said in an interview.
Global Ferronickel Holdings, the Philippines’ second-biggest nickel ore miner, has the flexibility to increase its shipments in 2016 if prices rise, though it is still looking to cut shipments to about 5 million wmt this year, down from 5.4 million wmt in 2015, said Ramon Peter Adviento, senior vice president for investor relations at Global Ferronickel.
Nickel ore producers in the Philippines, the biggest supplying country to China after Indonesian export ban on unprocessed minerals since early 2014, agreed earlier this month to cut output and exports by as much as 20 percent in 2016 due to weak prices.
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