[Ferro-Alloys.com]In recent period, spot price of medium and high grade nickel ores showed a slight rise by RMB20/wet mt, up USD4//wet mt for future price. Ni1.6% was now quoting at RMB360-370/ wet mt and RMB440/ wet mt for Ni1.7%, while RMB510-530/wet mt for Ni1.8% at Tianjin port and RMB.580-590/ wet mt for Ni1.9% as well as RMB 640-650/ wet mt for Ni2.0%.

In terms of future market, mainstream price of medium grade nickel Ni1.7% concentrated on USD 49/ wet mt FOB, while USD 62/ wet mt for high grade nickel ore 1.8.%. As LME Ni price falling, it will exert negative influence on upward trend for nickel ore. On May 15, the inventory of nickel ore at main ports in China totaled 17.95 million tons, up by 50 thousand ton from prior week.

Meanwhile, the low grade nickel ores price was still had no obviously changes. Now nickel ore (Fe50%, water33%), Ni ore (Fe49%, water33%), and Ni ore(Fe48%, water33%) was quoted at RMB200-210/wet mt, RMB190-200/wet mt and RMB180-190/wet mt. FOB (Philippine main ports) prices for above materials were $12-14/wet mt, $11-13/wet mt, $10-12/wet mt respectively.

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• [Editor:Sophie]