SHANGHAI, Apr. 1 (SMM) – Prices for medium and high-grade nickel ore in China’s domestic market are expected to hold largely stable in the coming week, Shanghai Metals Market foresees.
Over this past week, traders held offers firm as supply of medium and high-grade nickel ore remained tight, but trading sentiment was poor due to big price difference between sell and buyer.
At present, domestic high-grade NPI producers are facing tough conditions, weakening their acceptance to high-priced ore.
Supply of medium and high-grade nickel ore is expected to remain tight, and such conditions are not expected to improve in the short term despite after the end of monsoon season in Surigao, the Philippines.
In the low-grade ore market, prices were also largely unchanged, as demand showed no improvement.
SMM expects China’s nickel ore prices to remain stable in the coming week.
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