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Home / Metal News / Short-term Nickel Ore Prices Likely to Decline

Short-term Nickel Ore Prices Likely to Decline

May 22, 2023 16:16

Source:SMM

Last Friday, the average price of Ni 1.5% ore stood flat on the week at $52.5/wmt on a CIF basis.

SHANGHAI, May 22 (SMM) - Last Friday, the average price of Ni 1.5% ore stood flat on the week at $52.5/wmt on a CIF basis. Mines in the Philippines were less willing to ship spot nickel ore since the prices were critically low, tightening the spot supply in China. The overall nickel ore demand from the NPI factories decreased somewhat. NPI plants took a wait-and-see approach toward nickel ore purchases and might push for lower ore prices after NPI prices dropped to 1,117.5 yuan/mtu last week. Ore traders were in a dilemma and saw few trades when facing higher ore prices quoted by mines and low volumes of nickel ore demanded by NPI factories. Short-term Ni 1.5% ore prices may drop.

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Short-term Nickel Ore Prices Likely to Decline

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