Tight supplies bolster prices of nickel ore

SHANGHAI, Oct 10 (SMM) – Prices of Ni1.65% nickel ore diverged in the Chinese market as consumers favoured ore with a higher ratio Si/Mg ratio, SMM research found.

Traded prices of Ni1.65% nickel ore with a high ratio of Si/Mg were heard at $46-47/wmt cif as of Wednesday October 10 and some traders offered up to $48/wmt cif in the north. Some northern consumers purchased materials with a lower ratio of Si/Mg, at $45.5/wmt cif.

Supplies with a higher ratio of Si/Mg were tight across Chinese markets while supplies with a lower ratio were adequate.