Short-term Ni Ore Prices Likely to Grow

Published: May 6, 2023 10:54

Source: SMM

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On May 5, the average price of Ni 1.5% ore stood flat on the week at $51/wmt on a CIF basis.

SHANGHAI, May 6 (SMM) - On May 5, the average price of Ni 1.5% ore stood flat on the week at $51/wmt on a CIF basis. The arrival of some spot ore will be delayed because of the poor weather conditions in the Philippines, tightening the nickel ore supply in China. In the meantime, the ore quotes stood low this week, weakening the mines' willingness to ship cargo. The Chinese NPI plants restocked some nickel ore on rigid demand during the week. The factories may raise their purchase prices of nickel ore with the continuous rise in NPI prices. The ore traders were less willing to ship their spots during the week on low ore prices in China and the slight decrease in nickel ore quotes offered by mines. Short-term Ni 1.5% ore prices may be stable with occasional ups.

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