SHANGHAI, Apr 10 (SMM) - Last Friday, the average price of Ni 1.5% ore dipped $6/wmt from the previous Friday to $53/wmt on a CIF basis. Medium and high-grade nickel ore supply were low in China since the mines in the Philippines mainly produced low-grade nickel ore. On the demand side, the NPI prices trended lower to 1,042.5 yuan/mtu last week, weighing on nickel ore prices. Besides, the NPI plants were less willing to buy nickel ore in fear of a further fall in NPI prices. Domestic ore traders were more willing to purchase nickel ore on the falling prices, but the market still witnessed fewer transactions. And the mines slightly cut their quotes. Short-term CIF prices of Ni 1.5% ore may fall amid the unclear price trend of NPI.
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