[Ferro-Alloys.com]In early Mar., the medium and high grade nickel ores of Philippines origin declined by USD1/wet mt as Ni1.5%, Fe25-30% was quoted at USD49-50/wet mt (CIF China), Ni1.6%Fe 20-25% was USD60-61/wet mt, Ni1.8% Fe12-18% was USD81-82/wet mt and Ni0.9%-1.1% Fe:49% was USD23-24/wet mt.

In respective of the medium and high FeNi, the price continued to decline in quarter1. It could be seen that at the end of Feb., some steel mills settled the purchase price at RMB1080/Ni (delivery price with tax by cash)while in early Mar., the price further decreased to RMB1050/Ni and some traders even offered at RMB1030/Ni. Under poor market condition, the FeNi producers were not positive to sell. Even though the high grade nickel ores price declined by USD1/wet mt, the price gap between the buyers and sellers still hinder the deal. According to some buyers, their expectation price for Ni ore with Ni1.8% was about USD78-80/wet mt.

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• [Editor:Juan]