Higher freight, nickel rally boost prices of nickel ore-Shanghai Metals Market

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Higher freight, nickel rally boost prices of nickel ore

SMM Insight 03:19:42PM Jul 17, 2019 Source:SMM

SHANGHAI, Jul 17 (SMM) – Nickel ore prices received a boost from higher sea freight and the recent rally in nickel prices.

SMM learned that high-grade nickel ore with Ni 1.8% was traded at $49-50.5/wmt on a cif basis this week, up some $0.5/wmt from last week.

Shanghai nickel has climbed for eight consecutive trading days, towards the highest in a year, as of Wednesday July 17.

Sharp gains in nickel prices fuelled morale among Chinese nickel pig iron producers. Greater purchases by NPI producers spurred trades across nickel ore markets, and buoyed prices.

Key Words:  Nickel ore 

Higher freight, nickel rally boost prices of nickel ore

SMM Insight 03:19:42PM Jul 17, 2019 Source:SMM

SHANGHAI, Jul 17 (SMM) – Nickel ore prices received a boost from higher sea freight and the recent rally in nickel prices.

SMM learned that high-grade nickel ore with Ni 1.8% was traded at $49-50.5/wmt on a cif basis this week, up some $0.5/wmt from last week.

Shanghai nickel has climbed for eight consecutive trading days, towards the highest in a year, as of Wednesday July 17.

Sharp gains in nickel prices fuelled morale among Chinese nickel pig iron producers. Greater purchases by NPI producers spurred trades across nickel ore markets, and buoyed prices.

Key Words:  Nickel ore