Shanghai Nonferrous Metals News
NPI prices have continued to fall, leading most domestic NPI smelters into loss. Most domestic NPI smelters are currently inclined to cut operations and reduce nickel laterite prices further. As of today, some Philippine nickel laterite (1.3% Ni grade) deals had been concluded at USD51/t (WMT), meaning that Philippine nickel laterite (1.5% Ni grade) transaction prices will be set at USD65~66/t (WMT).
Nickel laterite prices are likely to fall further over the short term, and prices are forecast to fall to USD50/t (WMT) for nickel laterite (1.5% Ni grade) at the beginning of 2021.