[Ferro-alloys.com]This week not only the LME Ni but the medium and high FeNi price decreased significantly. In mid-Jan., the export volume of medium and high grade nickel ores was still limited, therefore, the miners quoted firmly and in the early days of this weeks, some miners tried to pull up the price. However, the poor acceptance of downstream made their attempt failed. Even though the high grade nickel ores declined, while the drop rate was not large for the decreasing stock and the few supply of new materials. According to the statistics, on Jan.16th, nickel ores stock declined by 300thousand tons to 20.35million tons. It was acknowledged the stock had already declined for 10weeks with decreasing rate was 3.55million tons.

In recent week the medium and high grade nickel ores spot price declined by RMB10/wet mt while the futures had no much changes. Specifically, nickel ore with Ni1.6%, Ni1.7%, and Ni1.8% in Tianjin Port were quoted at RMB450-460/wet mt, RMB510-520/wet mt, RMB570-590/wet mt respectively, and the transaction price for Ni1.9% and Ni2.0% were RMB630-640/wet mt, RMB690-700/wet mt. In future market, medium-grade nickel ore with Ni1.7% and Ni1.8% from Philippine are $57/wet mt FOB and $70-71/wet mt FOB.

In recent week the low grade nickel ores future price declined by USD1/mt while the spot remained steady. In details, FOB prices for nickel ore(Fe50%, water33%), nickel ore(Fe49%, water33%), nickel ore(Fe48%, water33%) was quoted at $14-16/wet mt, $13-15/wet mt, $12-14/wet mt respectively. Spot prices for above materials were quoted at RMB220-230/wet mt, RMB210-220/wet mt and RMB200-210/wet mt. The increasing price low FeNi had some support for the low grade nickel ores, while the low grade nickel ores price bore pressure for the few purchase volume.

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• [Editor:Juan]