China nickel ore prices continue to rally on tight supply, bullish sentiment

Nickel ore prices in China maintained their upward momentum in the week ended Friday September 18, driven by tight supply and bullish sentiment ahead of the rainy season in the Philippines.

Fastmarkets assessed the price of laterite ore with 1.5% Ni content, cif China, at $68-71 per tonne on Friday, up by $5-6 per tonne (8.6%) from $63-65 per tonne a week earlier. This marks the highest since Fastmarkets began tracking the market in February 2016.
Fastmarkets’ weekly price assessment for laterite ore with 1.8% Ni content, 15-20% Fe, water content 30-35% Si:Mg ratio<2, cif China, was $90-91 per tonne on Friday, up by $16-17 per tonne from $73-75 per tonne a week earlier. The price is now at its highest since late September 2014.

“The recent increase is mad; it’s going up so quickly and the...

Published

Sally Zhang

September 21, 2020

06:44 GMT

Shanghai