Nickel Ore Prices Dip Amid Softening Demand, Indonesia Has Granted Temporary Quotas For Nickel Ore Mining To Address Supply Crunch

Published: Nov 6, 2023 15:03

Source: SMM

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On November 2, the average price of Ni 1.5% ore was $59/wmt on a CIF basis, down $2/wmt compared to the previous week.

On November 2, the average price of Ni 1.5% ore was $59/wmt on a CIF basis, down $2/wmt compared to the previous week. As of last Thursday, research by SMM shows that in response to the tight nickel ore situation in Q4 2023, Indonesia has granted temporary quotas for nickel ore mining, but these quotas are only for Q4 of 2023. Consequently, Indonesian local steel plants are reducing their intention to purchase nickel ore from Philippines.

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