Scarce available nickel ore kept quotes at high levels, shipping rates unlikely to fall in short-term

Published: Jul 13, 2021 15:58

Save

SMM prices of Ni1.5% ore average stood at $73.5/wmt on a cif basis on July 9, unchanged from a week earlier. Nickel ore prices remained stable this week. Quotations remained high but the mainstream traded prices in the market remained at CIF $72-75/wmt.

SHANGHAI, Jul 13 (SMM) — SMM prices of Ni1.5% ore average stood at $73.5/wmt on a cif basis on July 9, unchanged from a week earlier.

Nickel ore prices remained stable this week. Quotations remained high but the mainstream traded prices in the market remained at CIF $72-75/wmt. Traded prices in north China were higher, with several deals at CIF $76/wmt. Quotes for a small amount of high-grade 1.8% ore from New Caledonia stood at $100-102/wmt. The upward momentum of nickel ore prices has slowed down due to the narrowing of NPI profits. However, ore prices are likely to remain high and even further squeeze the profit margins of NPI amid high demand and tight supply. Traded prices of 1.5% ore are expected to move between $73-78/wmt.

Shipping rates from the Philippines to China on July 2 stood at $21.75-22.05/wmt (the Philippines to southern Chinese ports-the Philippines to northern Chinese ports), flat from a week earlier. The BDI remained high and stood at 3,281, slightly lower than a week earlier. Slow unloading to cargoes at ports extended shipping periods, preventing shipping rates of nickel ore from falling.

Prices Shipping rates Nickel ore

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

13 hours ago

[SMM News] Indonesia's State Electricity Company (PLN) Increases Purchase of Tsingshan IWIP Waste Heat Power to 11 Megawatts, Aiming to Strengthen Regional Power Grid Stability

Indonesia's state power company (PLN) Maluku and North Maluku branch officially revised the power purchase agreement with Weda Bay Industrial Park (IWIP) on March 2, 2026, increasing the purchased excess power from 8.5 MW to 11 MW. PLN General Manager Noer Soeratmoko stated that the additional 2.5 MW capacity aims to address the growing electricity demand of residents and small enterprises in the central Halmahera region, ensuring the stability of the central Halmahera power grid during peak periods. IWIP President He Xiaoqing (Kevin He) noted that this collaboration is a significant step for the industrial park in supporting local energy supply, and by enhancing cooperation with PLN, it can rapidly improve regional power security without the need to construct new power plants.

13 hours ago

【SMM Flash News】PLN Increases Excess Power Purchase from IWIP to 11 MW to Boost Regional Grid Stability

PT PLN (Persero) has officially amended its Power Purchase Agreement (PJBTL) with PT Indonesia Weda Bay Industrial Park (IWIP), increasing the utilization of excess power from 8.5 MW to 11 MW as of March 2, 2026. General Manager Noer Soeratmoko stated that this 2.5 MW increase is a strategic move to secure power reserves for the Weda system amid rising demand from households and local businesses in Central Halmahera. IWIP President Director Kevin He emphasized that this collaboration ensures high-quality power distribution for the community, providing an immediate energy solution without the need for new power plant construction.

13 hours ago

15 hours ago

[SMM Analysis] Global Stainless Steel Market Review – February 2026: Policy Shocks Collide with Supply Disruptions

15 hours ago