[Ferro-Alloys.com]In recent days, the medium and high grade nickel ores price stayed stable and foreign miners also offered firm. On Feb.27th, nickel ores stock of China was 19.05million tons, rising slightly than last week, which was the first time for nickel ores stock to increase after three and half months’ decline. However, despite of the increase of Philippines Ni ores, the Indonesian Ni ores further declined with total volume of 5.1million tons.

This week the medium and high grade nickel ores spot and futures price maintained stable as 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 $61/wet mt FOB and $75/wet mt FOB.

The spot and future price of low grade nickel ores also had no changes 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.At present, the low grade nickel ores market was not active and buyers tried to pressure on the price. One reason was many producers stored enough stock. In addition, the current spot stock in China was high and the new wave of nickel ores would enter China along with the over of Philippines rainy season.

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• [Editor:Juan]