This week the nickel metal price in Chinese market decreased by RMB900/tm as Jinchuan nickel spot price was quoted at RMB101400-101600/mt. despite of the Fluctuating nickel price, the market still expected high for later trend. Because of the Indonesian policy and the shortage of high grade nickel ores in Philippines, the market expected the nickel price would increase much in Q2 and the second half of 2014.

 

Affected by the environmental inspection, the medium and low ferronickel production decreased. The medium ferronickel price kept stable temporarily as FeNi 4-6% was mainly quoted at RMB1030-1050/Ni, 6-8% was RMB1020-1040/Ni. However, because of the falling supply, low ferronickel price increased by RMB50/mt to RMB2650-2700/mt (ex-works price with tax).

 

At the end of Mar. the high ferronickel trading was still not well, even though the steel mills increased the purchasing price. Now the ferronickel enterprises held the stock, waiting to see the largest affordability under the rising nickel ores price. Then they would decide whether to stop production or continued to operate.

 

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