SHANGHAI (Scrap Register): A large nickel pig iron (NPI) plant in eastern China restocked last week and raised prices of nickel ore on the week. This followed after it barely purchased raw materials and mostly depleted in-plant stocks, given weak prices in the market, said SMM in a Weekly Research note.
The expiration of export quotas at major mining companies in Indonesia may affect supplies of nickel ore this month. Some 2.08 million wmt of nickel ore export quotas at Harita will expire in January. With monthly delivery of 280,000 wmt, the company is currently loading unfulfilled cargoes, according to SMM.
At Fajar Bhakti Lintas Nusantara, export quotas for some 4.02 million wmt of nickel ore will expire by the end of January, and approval for new export quotas has not been released. The company ships 280,000 wmt of nickel ore each month.
Previously, it took up to two months to renew export quotas at Jinchuan WP and PT Sambas.
