[Ferro-Alloys.com]Entering mid-Sept., low grade nickel ores future price decreased by USD2/wmt for imbalanced supply and demand 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.For spot price, it stayed steady in recent week, and the above materials were quoted at RMB320-330/wet mt,RMB310-320/wet mt, and RMB290-310/wet mt respectively.

Medium and high grade Ni ores price had no changes while many traders holding stock still kept the wait and see attitude. 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 Ni1.9% 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.

Despite of the upcoming rainy season in the main producing areas of Philippines, the nickel ores might still be hard to go up for the low capacity release of FeNi and the poor condition of stainless steel.

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• [Editor:Juan]