SHANGHAI, Dec. 19 (SMM) – Prices for medium and high-grade nickel ore, for future delivery, were up last week due to supply tightness, Shanghai Metals Market reports.
Supply of medium and high-grade ore is now tightening due to the monsoon season and environmental crackdowns in the Philippines, SMM explains.
China Sees Bigger Declines in Nickel Ore Inventories, SMM Reports
“Supply shortages are expected to continue supporting medium and high-grade ore prices, but light trading on the other hand will also curb the rising strength,” SMM points out.
SMM expects low-grade nickel ore price to rise slightly, both for spot and future delivery, for the foreseeable future.
Indonesia May Relax Ban on Mineral Exports
In other news, Philippines’s Department of Environment and Natural Resources (DENR) said last week to cancel ECC of three nickel mining firms, namely Ipilan, Lebach Mining and Austral-Asia Link.
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