SHANGHAI, Aug. 9 (SMM) – The rising momentum in medium and high-grade nickel ore market is expected to ease this week, Shanghai Metals Market foresees.
“Price gains in high-grade NPI market are slowing, and meanwhile, domestic stainless steel mills have also slowed the pace to raise the procurement price for high-grade NPI, both of which will ease the rise in medium and high-grade ore market,” SMM nickel analyst says.
Moreover, deliveries by major ore traders also saw no significant declines, SMM adds.
According to SMM data, nickel ore inventories at seven major Chinese ports kept growing in the week ending Aug. 5.
China Nickel Ore Inventories Keep Growing on Concentrated Arrivals, SMM Says
Last week, prices for medium and high-grade nickel ore, both for spot and future delivery, advanced as stock-replenishing activities increased demand.
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