[Ferro-Alloys.Com]In recent week the medium and high grade nickel ores price basically kept stable while the trading was not well because of the declining FeNi market and the weak demand. Meanwhile, both the spot and futures of low grade Ni ores price went down.

This week the low grade Ni ores futures price declined by USD1 in real trading as Ni ore (Fe50%, water33%) is quoted at USD26-29/wet mt, Ni ore (Fe49%, water33%) at USD25-28/wet mt, and Ni ore (Fe48%, water33%) at USD24-27/wet mt. Spot price for low-grade nickel ore fell by RMB20/wet mt and the above materials were quoted at RMB320-330/wet mt,RMB310-320/wet mt, and RMB290-310/wet mt respectively.

Futures and spot price of medium and high grade Ni ores kept stable this week. In Tianjin Port, medium-grade nickel ore with Ni1.6% is quoted at RMB600-620/wet mt, nickel ore with Ni1.7% at RMB660-690/wet mt, high-grade nickel ore with Ni1.8% at RMB770-780/wet mt, nickel ore with Ni11.9% at RMB770-780/wet mt, nickel ore with Ni2.0% at RMB870-880/wet mt. Currently, the mainstream price of medium grade nickel ore with Ni1.7% from Philippine is quoted at USD88/wet mt FOB, and high grade nickel ore with Ni1.8% at USD97/wet mt FOB.

In recant days, the proposal for Modifying the Mining Act arrested the attention in nickel market. Some market participates worried that the Philippines would implement the mining export ban like Indonesia. However, according to the market source, in short term the proposal would not affect  the market. much Because it involved multi-stakeholders and need a long time to take effect from the proposal.

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• [Editor:Juan]