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Nickel Daily: Rising sulfur prices push up MHP production costs and provide support for nickel prices from the raw material side

Source: Mysteel Mar 18, 2026 09:06
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Nickel Demand Price Supply
In the Philippines, mines in the Surigao mining area, such as CNC and CPT, have started accepting orders for Ni:0.8-0.9% grade ore. Chinese ore traders have returned to quoting US $43-45/wmt (CIF) in China, with freight rates from Surigao to Guangxi around US $15/wmt. Quotes for Ni:0.6% high-alumina ore shipped to northern China have reached US $35-37/wmt. For medium-to-high grade ore, NPI smelters have received quotes of US $65 (CIF) for 1.3% grade and US $72-74/wmt (CIF) for 1.4% grade, but their psychological acceptance level is around US $62/wmt CIF for 1.3% grade, indicating low willingness to accept high-priced ore.SHFE nickel prices trended weaker with volatility yesterday. Spot premiums/discounts for refined nickel remained generally stable, with imported nickel maintaining a slight discount. Supply from various brands was relatively ample. Meanwhile, rising sulfur prices pushed up MHP production costs and provided support for nickel prices from the raw material side.

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