SHANGHAI, Dec 29 (SMM)－Nickel price is forecast to rise in mid-January to February next year due to shorter ore supply and better stainless steel demand, SMM believed.
Raining season in the Philippines and bad weather in Indonesia at the start of the year would limit nickel ore supply. As stainless steel demand is set to pick up after the Chinese New Year in mid-February, restocking is expected to happen earlier that month.
With the maintenance of one major nickel pig iron (NPI) plant, other NPI producers are unlikely to make up the shortage before the Spring Festival.
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