[Ferro-Alloys.com]This week the high grade nickel ores price maintained weakly stable while the medium and low grade nickel ores price declined slightly. On Mar.6th, total nickel ores stock was 18.6million tons, decreasing by 450thousand tons compared with last week.

In recent week, the high grade nickel ores spot was steady while the medium grade Ni ores declined by RMB10/wet mt as nickel ore with Ni1.6%, Ni1.7%, and Ni1.8% in Tianjin Port were quoted at RMB440-450/wet mt, RMB500-520/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 quotes from the Philippines miners was still firm while the downturn FeNi price weakened the acceptance force of the ferronickel producers. The price gap between the two parties was about USD3/wet mt.

The low grade nickel ores future down by USD1/wet mt while the spot price declined by RMB10/wet mt 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. as the FeNi factories in Shandong province closed down widely because of the environmental inspection, the demand for low grade nickel ores further decreased. Expect for the few inquires, the sellers suffered serious bargain.

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• [Editor:Juan]