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.