Nickel Ore Prices Decline as Philippine Supply Rises; Smelter Profits Improve Slightly
[SMM Nickel Flash] Auxiliary material prices edged down this week. Ore side, as the rainy season in the Philippines ended, nickel ore supply was released. Downstream buyers pushed for lower prices under cost pressure, and Philippine nickel ore prices edged down, while Indonesian nickel ore prices rose following the introduction of the HPM policy. Overall, profit pressure on domestic smelters eased somewhat this week, mainly due to a rebound in high-grade NPI prices and a slight reduction in costs.