[Ferro-Alloys.com]Futures price for low-grade nickel ore decreased by about $1.00 this week over the previous one. Currently, FOB prices for nickel ore(Fe50%, water33%), nickel ore(Fe49%, water33%), nickel ore(Fe48%, water33%) were quoted at $24-26/wet mt, $23-25/wet mt, $22-23/wet mt respectively. Spot price for low-grade nickel ore dropped by about ￥10/wet mt. Spot prices for nickel ore(Fe50%, water33%), nickel ore(Fe49%, water33%), nickel ore(Fe48%, water33%) were quoted at ￥310-320/wet mt, ￥300-310/wet mt, ￥290-300/wet mt respectively.The stockpile for low-grade nickel ore is sufficient, however, the purchase volume from downstream became smaller, which made it hard for the traders to increase their sales.

 

The LME nickel price kept declining this week, which made it hard for the medium-and high-grade ferronickel to stabilize its price, causing the medium- and high-grade nickel ore price down by ￥10-20/wet mt. Currently, the nickel ore with Ni1.6%, Ni1.7%, Ni1.8% in Tianjin Port are quoted at ￥580-610/wet mt, ￥640-660/wet mt, ￥750-760/wet mt respectively, and the transaction price for high-grade nickel ore with Ni1.9% and Ni2.0% were ￥800-810/wet mt, ￥850-860/wet mt. The futures price for nickel ore decreased by around $1.00/wet mt. Currently, the mainstream quotation prices for medium-grade nickel ore with Ni1.7% and Ni1.8% from Philippine are $87/wet mt FOB and $97/wet mt FOB. The ferronickel producers have sufficient stockpiles of nickel ore for now and have weak demand for purchasing, on the other hand, they lowered their purchase price sharply due to the sufficient spot supply and downbeat perspective for the market.

 

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