The nickel ore quotations are temporarily stable

Today, the nickel ore market is mainly observing, and nickel ore quotations are temporarily stable. It is expected that there will be significant actions to replenish inventory after the China's holiday. The CIF price of 1.4% nickel ore is mostly traded at 45-46 US dollars per wet ton. Short-term downstream pressure continues to propagate upwards, making it difficult to maintain support at the mining end. After the arrival of the rainy season in October, the resources of nickel ore will further decrease. The overall inventory situation of factories is lower than in previous years, and there is limited room for periodic price drops.