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Philippines Nickel Mine Shut Down Beneficial for Prices
The February's nickel price is better than January and benefit from
the Philippine's government shut down nickel mines. The LME nickel price
settled at US$10,675/ton yesterday (February 14th, 2017).
The
average price is at US$10,358/ton which is US$360/ton higher than
January. Stainless steel mills might have chance to unchanged price or
increase price by US$30/ton for March. However, it still need time to
obverse the demand is strong enough in the market. And it is very sure
that there is difficulty to lower the price as raw material remained
stable recently.
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