By now the Indonesian policy was still firm. Even though the election in July was one factor for the change, the President of the Chamber of Commerce in Indonesia said the export ban was likely to be abolished.

Steel mills had released the purchasing price, which mainly fluctuated between RMB1, 440-1,450/Ni (delivery price with tax).

The high FeNi cost and the insufficient supply made many steel mills turn to buy more low ferronickel ore nickel metal.

On the 11th China Ferro-alloys International Conference, Faisal Emzita, the Executive Director of Indonesian Nickel Association introduced the latest condition of the Indonesian export ban.

In FeNi market, some producers were initiative to sell some products for the tight fund. However, they still quoted firm. For steel mills

Affected by the Indonesian policy, the nickel price had already cumulative gains 50% since early of 2014.The main downstream industry-stainless steel suffered much due to the rising cost.

Affected by the Indonesian policy and the Ukraine situation, the nickel price had already increased by 50% since mid-Mar. This change brought much pressure to the steel mills for the rising cost while the stainless steel price was pulled up.

This week the nickel ores price continued to go up while the trading volume was little. According to the statistics, the total nickel ores stock at main ports of China was xx million tons, decreasing by XX tons.