SHANGHAI, Apr. 7 (SMM) – Prices of medium and high-grade nickel ore, especially spot prices, have been rising in recent days. What factors are behind the gain?
“Domestic NPI producers are showing higher buying interest in goods after price gains in medium and high-grade NPI market,” SMM nickel analyst says.
Moreover, inventories of nickel ore at China’s major ports are on the decline, also explaining the rise.
Spot prices of medium and high-grade ore, especially medium-grade ore, are below prices of goods for future deliveries, contributing bigger spot price gains, SMM survey finds.
One Yangjiang-based high-grade NPI producer bought Ni 1.5% ore at CIF prices of $23 per tonne in late March, and now offers are heard at $25 per tonne, with no deals so far reported.
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