Chinese buyers paid higher prices for nickel ore and nickel pig iron (NPI) last week amid tight supply and costlier freight. Prices for 1.5% nickel ore rose to new highs amid the uptrend.
Fastmarkets assessed the price of laterite ore with 1.5% Ni content, cif China at $78-81 per tonne last Friday February 26, up by $12-13 (18.7%) per tonne from $66-68 per tonne a week earlier. This is the highest prices have been 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 $100-107 per tonne last Friday, up by $12-15 (15%)...