Traded prices of high-quality nickel ore barely changed from pre-holiday levels

SHANGHAI, Feb 20 (SMM) – Nickel ores with 1.8% of Ni content mostly traded at $51.5-52/wmt in China so far this week, barely changed from levels seen before the Lunar New Year holidays, SMM learned.

This was despite higher offers by traders, at $53/wmt.

SMM learned that a nickel pig iron plant in east China would suspend nickel ore purchases for a month due to high inventories that were stockpiled for new capacity. The plant is expected to resume its nickel ore procurement in the middle of March.