Nickel Ore & NPI Price Review and Forecast | Shanghai Non ferrous Metals
Last week, the average price of Ni 1.5% ore was $46/wmt on a CIF basis, unchanged WoW. The rainy season is nearly over, leading to increased stocks at ports last week. Nickel ore transactions in the Philippines will resume this week. In Indonesia, prices for 1.2% laterite nickel ore were at $21.3- $25.3/wmt. Similarly, prices for 1.6% laterite nickel ore were at $37.3-$42.3/wmt. Nickel ore prices stayed high following a big rise. Despite releasing 152 million wmt quotas, they haven't fully hit the market yet.