SHANGHAI, Jul. 10 (SMM) – Last week, medium and high-grade nickel ore price, both for spot and future delivery, held largely stable, tracking steady movements in the high-grade NPI market.
Last week, Indonesian government allowed PT Ceria Nugraha Indotama to export nickel ore, the third company getting the approval. In the Philippines, the new environment minister announced to lift a limit on issuing environmental permits to projects, including mine exploration and development.
What's price outlook for nickel ore this week?
"The nickel ore market will hardly rise sharply due to the decline in LME nickel market and the lack of rising strength in the high-grade NPI market," SMM nickel analyst says.
According to SMM data, nickel ore inventories at seven major Chinese ports increased slightly in the week ending June 30.
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