Philippines’ top nickel ore producer sees flat shipments, better prices this year
NICKEL Asia Corp., the Philippines’ top nickel ore producer, said on Tuesday it expected shipments this year to match last year’s record-high level despite the still depressed prices of the raw material in stainless steel.
The company, which shipped 19.7 million wet metric tonnes last year from its four operating mines, however,
believes the worst is over for nickel and prices are expected to improve in the second half of the year.
“We think the worst of the downturn has passed, as we are now seeing some production cut backs and closures by refiners,” Nickel Asia CEO Gerard H. Brimo said in a statement.
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