[Ferro-Alloys.Com]Futures price of low-grade nickel ore falls by around USD4.00 this week. Currently, futures price for nickel ore (Fe50%, water33%) is quoted at USD27-29/wet mt, nickel ore (Fe49%, water33%) at USD26-28/wet mt, and nickel ore (Fe48%, water33%) at USD25-27/wet mt. Spot price for low-grade nickel ore fell by RMB10/wet mt, consequently, mainstream spot price for nickel ore (Fe50%, water33%) is quoted at RMB340-350/wet mt, nickel ore (Fe49%, water33%) at RMB330-340/wet mt, nickel ore (Fe48%, water33%) at RMB310-330/wet mt.

 

Futures and spot price of medium and high grade 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.

 

The bidding price in Sept for high ferronickel failed to rise but fell and there was no upward momentum for the price of medium and high grade nickel ore. The price of the medium and high grade nickel ore is expected to stay stable, as the high grade nickel ore from Philippine is just a small amount, adding it is the rainy season in the country which will cause a decrease in production. And in Shandong Province, the price of nickel ore that is rich in Fe and low in nickel is expected to remain low for the next few months, because the low ferronickel producers were impacted by the environmental protection issues and sluggish market which caused the factories closure.

 

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