[Ferro-alloys.com]This week the nickel ores spot price in Chinese market was stable while the futures increased by USD1-2/wet mt. on Feb.6th, nickel ores stock of China was 19.3million tons, declining by 300thousand tons than last week. up to now, then nickel ores stock had already decreased for 13weeks with drop volume of 4.6million tons.

In recent week medium and high grade nickel ores spot price in China was stable while the futures increased by USD1-2/wet mt as 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 $59/wet mt FOB and $73/wet mt FOB. As the high FeNi tender price in Feb. of China totally declined while the nickel ores price improved, the price gap between the two parties enlarged to USD4-5/wet mt. many FeNi manufactures postponed the purchases for nickel ores.

The spot price of low grade nickel ores was stable while the futures further increased by USD1/wet mt as FOB prices for nickel ore(Fe50%, water33%), nickel ore(Fe49%, water33%), nickel ore(Fe48%, water33%) was quoted at $18-20/wet mt, $17-19/wet mt, $16-18/wet mt respectively. Spot prices for above materials were quoted at RMB220-230/wet mt, RMB210-220/wet mt and RMB200-210/wet mt. As the Chinese New Year was upcoming, the FeNi capacity release would not change much and it was predicted that the low grade nickel ores demand would maintain low level and the price would kept steady.

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• [Editor:Juan]