Inquiries for lateritic nickel ore increase
2014-02-18 09:57:37 [Print]
BEIJING (Asian Metal) 18 Feb 14 - According to the participants, inquires for lateritic nickel ore increased on Monday as many ferronickel producers returned to the market after the long holiday. More and more participants believed lateritic nickel ore price may increase further in the following weeks due to the tight supply.
A trader from the Philippines reported that they signed long contact with customers and held no stock on hand. They received many inquiries from Chinese customers but the supply of lateritic nickel ore was insufficient in the rainy season. The source indicated that the demand from Chinese customers is active but the supply of lateritic nickel ore is tight, so they have to insist on the high offers. They offered lateritic nickel ore 1.8% at USD43-45/t FOB Philippines and lateritic nickel ore 1.9% at USD57-59/t CIF Tianjin port this week, on a par with that last week.
"The high-grade lateritic nickel ore mine in the Philippines is insufficient, so just several mines can export high-grade lateritic nickel ore. Lateritic nickel ore price may increase further supported by the tight supply,” said the source.
Another trader from Shandong reported that they hold two ships of high-grade lateritic nickel ore on hand, and are not in a hurry to release stocks. The source indicated that they received many inquiries from customers this week, but they refused to accept the purchasing price. They offer lateritic nickel ore 1.9% at RMB460/t (USD76/t) ex port this week, up by RMB10/t (USD3/t) compared with that last week.
"We are not in a hurry to sell lateritic nickel ore stocks and believe the price may increase further due to the tight supply. Furthermore, it is hard for us to import nickel ore from the Philippines as mines also are not in a hurry to sell and the demand is strong,” said the source.
A trader from the Philippines reported that they signed long contact with customers and held no stock on hand. They received many inquiries from Chinese customers but the supply of lateritic nickel ore was insufficient in the rainy season. The source indicated that the demand from Chinese customers is active but the supply of lateritic nickel ore is tight, so they have to insist on the high offers. They offered lateritic nickel ore 1.8% at USD43-45/t FOB Philippines and lateritic nickel ore 1.9% at USD57-59/t CIF Tianjin port this week, on a par with that last week.
"The high-grade lateritic nickel ore mine in the Philippines is insufficient, so just several mines can export high-grade lateritic nickel ore. Lateritic nickel ore price may increase further supported by the tight supply,” said the source.
Another trader from Shandong reported that they hold two ships of high-grade lateritic nickel ore on hand, and are not in a hurry to release stocks. The source indicated that they received many inquiries from customers this week, but they refused to accept the purchasing price. They offer lateritic nickel ore 1.9% at RMB460/t (USD76/t) ex port this week, up by RMB10/t (USD3/t) compared with that last week.
"We are not in a hurry to sell lateritic nickel ore stocks and believe the price may increase further due to the tight supply. Furthermore, it is hard for us to import nickel ore from the Philippines as mines also are not in a hurry to sell and the demand is strong,” said the source.
Nickel Ore Philippine 0.8%min CIF China
Unit:USD/mt
China refined nickel producers' operating rate statistics by province by month
Unit: %
