The nickel ore inventory at Chinese ports dipped 175,000 wmt from a week earlier to 8.28 million wmt as of January 28.

The nickel ore inventory at Chinese ports dipped 114,000 wmt from a week earlier to 9.35 million wmt as of November 26.

Zhongwei shares issued an announcement last night that, in view of the company's continued optimism in the high nickel matte recovered from nickel laterite smelting, its wholly-owned subsidiary Zhongwei Hong Kong New Energy reached a supplementary agreement with RIGQUEZA to make additional investments in the joint venture PT.ZhongTsing New Energy. The two parties agreed to build a new laterite smelting project in Indonesia (Phase II) with an annual production capacity of 30,000 m of high nickel matte in metal content on top of Phase I project.

Indonesia Department of Energy and Mineral Resources released the benchmark price forecast of Indonesian nickel ore in November.

The current tightness of NPI, coupled with the upward trend in cost-end prices (mainly rising electricity prices) and the reduction in NPI output caused by power rationing, has made the problem of NPI shortage more difficult to solve.

Customs data showed that China imported 5.78 million mt (wmt and dmt mixed) of nickel ore in August, up 11.4% month on month and 54.2% year on year.

The Commission on Appointments (CA) rejected on Wednesday the appointment of Environment Secretary Gina Lopez.

Global Ferronickel reported its net income tumbled 97 percent to P37.5 million in 2016, down from P1.11 billion in 2015, it said in a regulatory filing. 

SHFE 1709 nickel started at RMB 84,370/mt and closed at RMB 84,860/mt, up RMB 590/mt or 0.70%.

LME nickel will fluctuate at around USD 10,000/mt and SHFE 1705 nickel will fluctuate between RMB 81,900-83,500/mt.