SHANGHAI, Jun. 12 (SMM) – Bullish sentiment in the nickel ore market is cooling down, Shanghai Metals Market says.
“The bulls in the nickel ore market are hit by falling LME nickel prices, briefly dropping below the $13,000 mark on Friday,” SMM nickel group says.
Besides, spot trading is light on Friday, and port inventories are up slightly with arrivals of new goods.
On June 12, the price of Ni 0.9-1.0% ore was 165-185 yuan, 265-365 yuan for Ni 1.4-1.6%, and 505-575 yuan for Ni 1.8-1.9% ore, according to SMM data.
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