Nickel Ore Price to Advance on Positive Factors, SMM Predicts

SHANGHAI, Jul. 19 (SMM) – Nickel ore prices are expected to advance this week on multiple positive factors, Shanghai Metals Market foresees.  

The Philippines has been the major ore supplier to China after Indonesia imposed its ore export ban since earlier 2014, and market is sensitive to changes of the country’s policy. 

“Rising momentum in the medium and high-grade ore market is strong, especially after recent news of industry policies in the Philippines,” SMM nickel analyst says. 

NPI Producers in Inner Mongolia Halt Production on Environmental Factor, SMM Reports

Low availability of goods and rising NPI prices will also combine to support ore prices, SMM adds.  

In the low-grade ore market, the new round of environmental protection inspections in Shandong, one major NPI producing region, is negatively affecting demand for the type of ore, but the market is also getting support from costs. 

Arrivals of Nickel Ore at Chinese Ports Slow Down, SMM Reports

In other news, nickel ore inventories at China’s major domestic ports kept growing last week, but the growth has slowed down, according to SMM data. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.