SHANGHAI, Sep. 5 (SMM) – Mines are loading ships according to plans after Indonesia added nickel ore export quotas at the end of July. Mine owned by Macrolink may obtain export quota for over 800,000 mt of nickel ore. Despite negative impact on shipments in the Philippines, nickel ore supply will remain high in September and will be ample this year. NPI producers in China are passionate about producing due to high profit and demand from steel mills.
LME nickel will stay high today, while SHFE 1801 nickel should move at highs of RMB 96,000-97,000/mt today. Spot nickel prices will be RMB 94,800-95,800/mt in domestic market.
Key Macroeconomic Indicators for Base Metal Prices (2017-9-5)
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