Affected by the rising trend of foreign market, the spot price of high grade nickel ores in Chinese market continued to improve. However

[Ferro-Alloys.com]For the tight supply of nickel, international major steel mills had largely improved the factory price of June. For example, Yieh United Steel Corp (Yusco) had pulled up the 300 series stainless steel price by RMB1860/mt (in Chinese market), ...

[Ferro-Alloys.com] In end May, the crazy nickel ore market in China grandually calmed down due to buying from purchasers decreasing.

According to the producers, the supply of low FeNi was pretty tight. Now the low FeNi price had already increased to RMB3,400-3,600/mt,

Nickel was underpinned on Tuesday after rioting at a Vale mine in New Caledonia intensified worries over supply shortages, while copper hit its highest level in nearly three months on demand recovery hopes.

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.