SHANGHAI, Mar. 27 (SMM) – Last week, medium and high-grade nickel ore prices advanced as expected, and what’s the price outlook this week?
"Price gains in the medium and high-grade ore market are expected to be continuing due to supply shortages and buying demand," SMM nickel analyst foresees.
In the low-grade ore market, CIF prices rose with higher sea freight charges last week, with mainstream prices for Ni 0.9%, Fe 49% ore at $22-23 per wmt.
As a new round of environmental protection inspections will be introduced in many regions of China, domestic low-grade NPI producers will meet difficulties in resuming production. Hence, low-grade nickel ore prices are expected to stabilize thanks to costs support.
In other news, nickel ore inventories at seven major Chinese ports stayed on the downward track last week, Shanghai Metals Market reported.
Nickel ore inventories at seven major Chinese ports were down 180,000 tonnes last week, according to SMM data.