Philippine laterite nickel ore imports in Chinese market increase
2023-03-22 11:44:12 [Print]
BEIJING (Asian Metal) 22 Mar 23 – As the current Philippine rainy season has ended, the production of Philippine laterite nickel ore increases, the speed of shipment also accelerates, and the import volume of Philippine laterite nickel ore in Chinese market increases. On Tuesday, mainstream prices of the Philippine laterite nickel ore 1.3%min stood at USD41-43/t CIF China, stable compared to Monday. Insiders noted that although the current deal volume of laterite nickel ore increases, Chinese ferronickel enterprises continue to force down the price of laterite nickel ore, and expect that the prices of the Philippine laterite nickel ore would remain relatively stable in the coming week.
A trader in North China reported that as the rainy season in the Philippines ended, they increased their procurement of laterite nickel ore. They purchased 165,000t in February and expect to purchase about 550,000t in March. "On Tuesday Philippine laterite nickel ore suppliers could accept the price of USD42/t CIF China, while domestic consumers were willing to purchase at USD40/t CIF China, in line with Monday. We did not purchase this week and bought 385,000t at USD42/t CIF China last Friday", the source mentioned, adding that currently ferronickel enterprises continue to depress the price of laterite nickel ore, and predicts that the prices of the Philippine laterite nickel ore would keep weak in the following week.
With a typical monthly trading volume of 385,000t, the trader estimates to purchase about 550,000t in March, compared to about 162,000t in February, and holds no laterite nickel ore stock at the moment.
A trader in East China claimed that the rainy season in the Philippines gradually ended in March and their procurement volume of laterite nickel ore increased. They purchased 275,000t in February and expect that the procurement volume would reach 420,000t in March. "On Tuesday the Philippine laterite nickel ore 1.3%min suppliers quoted USD42/t CIF China, while the intended purchase price given by Chinese consumers stood at USD40/t CIF China, on par with Monday. We did not purchase this week and last purchased 110,000t at USD50/t CIF China in early March", the source noted, adding that currently domestic consumers continue to depress the price of the Philippine laterite nickel ore, and expects that the prices of the Philippine laterite nickel ore in Chinese market would go soft in the forthcoming week.
With a typical monthly trading volume of 550,000t, the trader purchased about 275,000t in February and expects to buy 550,000t in March, holding no laterite nickel ore stock for the time being.
A trader in North China reported that as the rainy season in the Philippines ended, they increased their procurement of laterite nickel ore. They purchased 165,000t in February and expect to purchase about 550,000t in March. "On Tuesday Philippine laterite nickel ore suppliers could accept the price of USD42/t CIF China, while domestic consumers were willing to purchase at USD40/t CIF China, in line with Monday. We did not purchase this week and bought 385,000t at USD42/t CIF China last Friday", the source mentioned, adding that currently ferronickel enterprises continue to depress the price of laterite nickel ore, and predicts that the prices of the Philippine laterite nickel ore would keep weak in the following week.
With a typical monthly trading volume of 385,000t, the trader estimates to purchase about 550,000t in March, compared to about 162,000t in February, and holds no laterite nickel ore stock at the moment.
A trader in East China claimed that the rainy season in the Philippines gradually ended in March and their procurement volume of laterite nickel ore increased. They purchased 275,000t in February and expect that the procurement volume would reach 420,000t in March. "On Tuesday the Philippine laterite nickel ore 1.3%min suppliers quoted USD42/t CIF China, while the intended purchase price given by Chinese consumers stood at USD40/t CIF China, on par with Monday. We did not purchase this week and last purchased 110,000t at USD50/t CIF China in early March", the source noted, adding that currently domestic consumers continue to depress the price of the Philippine laterite nickel ore, and expects that the prices of the Philippine laterite nickel ore in Chinese market would go soft in the forthcoming week.
With a typical monthly trading volume of 550,000t, the trader purchased about 275,000t in February and expects to buy 550,000t in March, holding no laterite nickel ore stock for the time being.
