[Ferro-Alloys.com]Entering middle of August, spot prices of high grade nickel ores kept stable while futures price was tired to pull up by USD1/wmt. Nickel ore spot with Ni 1.6% at RMB600-620/wet mt, Ni1.7% at RMB660-690/wet mt, Ni1.8% at RMB760-780/wet mt, Ni1.9% at RMB810-830/wet mt, Ni2.0% at RMB890-910/wet mt. Meanwhile, the high grade nickel ore from Philippine was also stable with Ni1.7% at USD88/wet mt FOB and Ni 1.8% at USD97/wet mt FOB. As the nickel ores market trend was not certain, the Chinese traders were cautious for the purchasing and the real trading was not that many.
Low grade nickel ores from Philippines had no changes in recent week with normal production and sales. Futures prices of the low grade nickel ores were as follows, nickel ore with Fe50% water33% at USD31-33/wet mt FOB; Fe49% and water 33% at USD30-31/wet mt FOB; Fe48% and water 33% at USD29-31/wet mt FOB. On Chinese spot market, the nickel ores stock was high for the weak downstream demand. This week the spot prices for the above materials decreased by RMB10/wmt and respectively at RMB350-360/wet mt, RMB340-350/wet mt and RMB320-340/wet mt. it was expected that in short term the low grade nickel ores condition was hard to be changed for the poor low ferronickel situation in Chinese market.
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- [Editor:Juan]
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