[Ferro-alloys.com]In recent week, the nickel ores price remained steady. According to the statistics, on Jan.23th, nickel ores stock declined by 500thousand tons to 19.85million tons. It was acknowledged the stock had already declined for 11weeks with decreasing rate of 4.05million tons.

This week the medium and high grade nickel ores price had no changes 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 $70-71/wet mt FOB. It could be seen that the decreasing rate of the medium and high grade nickel ores stock was large and many FeNi sellers offered firm. In short term, the above materials were expected to go stable.

Meanwhile, the low grade nickel ores futures price rose by USD2/wet mt while spot price remained steady as FOB prices for nickel ore(Fe50%, water33%), nickel ore(Fe49%, water33%), nickel ore(Fe48%, water33%) was quoted at $16-18/wet mt, $15-17/wet mt, $14-16/wet mt respectively. Spot prices for above materials were quoted at RMB220-230/wet mt, RMB210-220/wet mt and RMB200-210/wet mt. Iron ore price was in low standard while the market expected that in 2015 the oversupply situation would be released, therefore, it had no much decreasing space. As the low grade nickel ores producing areas was in rainy season, the few exports had some support to the price while as the demand from China was not sound, the low consumption speed means that the price recover need some time.

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• [Editor:Juan]