[Ferro-alloys.com]This week the medium and high grade nickel ores price stayed stable while the low grade nickel ores futures continued to recover. According to the statistics, on Jan.30th, nickel ores stock declined by 250thousand tons to 19.6million tons. It was acknowledged the stock had already declined for 3 months with decreasing rate of 4.3million tons.

In recent week the both the futures and spot price was steady 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 $57/wet mt FOB and $71/wet mt FOB. In Feb., the high ferronickel capacity release was low. In Inner Mongolia, Shandong and Liaoning province was just 25%，35% and 50% respectively. Because of the poor market condition and the upcoming New Year, many discontinued enterprises pushed forward the resumption time. Therefore, the demand was hard to be improved in short time while the spot price might run smoothly supported by the cost.

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 $17-19/wet mt, $16-18/wet mt, $15-17/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 traders were cautious for the imports for the restricted demand and the firm quotes from the miners. Supported by the importing cost, the low grade nickel ores spot remained stable for two months while restricted by the weak demand, it was expected that the price would suffer large resistance before mid-Feb..

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• [Editor:Juan]