Nickel Ore Price Advances with Supply Shortages, SMM Reports

Published: Dec 19, 2016 10:52

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Prices for medium and high-grade nickel ore, for future delivery, were up last week due to supply tightness, Shanghai Metals Market reports.

SHANGHAI, Dec. 19 (SMM) – Prices for medium and high-grade nickel ore, for future delivery, were up last week due to supply tightness, Shanghai Metals Market reports.

Supply of medium and high-grade ore is now tightening due to the monsoon season and environmental crackdowns in the Philippines, SMM explains.

China Sees Bigger Declines in Nickel Ore Inventories, SMM Reports

“Supply shortages are expected to continue supporting medium and high-grade ore prices, but light trading on the other hand will also curb the rising strength,” SMM points out.

SMM expects low-grade nickel ore price to rise slightly, both for spot and future delivery, for the foreseeable future.

Indonesia May Relax Ban on Mineral Exports

In other news, Philippines’s Department of Environment and Natural Resources (DENR) said last week to cancel ECC of three nickel mining firms, namely Ipilan, Lebach Mining and Austral-Asia Link.

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nickel prices nickel ore prices china nickel ore inventories

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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