Philippine laterite nickel ore market in China sees growing transactions
2024-04-26 10:45:01 [Print]
BEIJING (Asian Metal) 26 Apr 24 - This month, the Philippine laterite nickel ore market in China sees active transactions and traders report notable growths in their sales. This Thursday, mainstream prices of Philippine laterite nickel ore 1.3%min stayed at USD30-32/t CIF China, in line with last Friday. Considering that end consumers are active in replenishing their Philippine laterite nickel ore stocks while miners show strong intention to raise prices, insiders believe that prices of Philippine laterite nickel ore would go up in the coming week.
A trader in North China disclosed that in April demand from their downstream clients for laterite nickel ore increases notably and his sales in April reach around 250,000t, compared with only around 100,000t in March. "This Thursday we offered no lower than USD37/t CIF China for low-grade Philippine laterite nickel 0.9%min Al 7%max, including the freight of around USD12/t, unchanged from last Friday. This Thursday we concluded no orders and early this week we sold 50,000t at USD37/t CIF China," the trader said, adding that the laterite nickel ore market sees active transactions and Philippine laterite nickel ore prices are expected to move up in the following week.
With a regular monthly trade volume of around 300,000t, the trader sold 250,000t in April and about 100,000t in March, holding no stocks of laterite nickel ore at the moment.
Another trader in North China disclosed that in April laterite nickel ore consumption by their downstream clients increases notably and accordingly his sales grow from only 230,000t in March to around 600,000t in April. "This Thursday we refused to sell Philippine laterite nickel at below USD33/t CIF China, unchanged from last Friday. This week we concluded no orders and last sold 60,000t at USD29/t FOB the Philippines in mid-April," the trader said. Considering that downstream clients are active in replenishing laterite nickel ore stocks and miners are eager to raise prices, he believed that Philippine laterite nickel ore prices would move up in the following week.
With a regular monthly trade volume of around 700,000t, the trader sold 600,000t in April and about 230,000t in March, holding no stocks of laterite nickel ore now.
A trader in North China disclosed that in April demand from their downstream clients for laterite nickel ore increases notably and his sales in April reach around 250,000t, compared with only around 100,000t in March. "This Thursday we offered no lower than USD37/t CIF China for low-grade Philippine laterite nickel 0.9%min Al 7%max, including the freight of around USD12/t, unchanged from last Friday. This Thursday we concluded no orders and early this week we sold 50,000t at USD37/t CIF China," the trader said, adding that the laterite nickel ore market sees active transactions and Philippine laterite nickel ore prices are expected to move up in the following week.
With a regular monthly trade volume of around 300,000t, the trader sold 250,000t in April and about 100,000t in March, holding no stocks of laterite nickel ore at the moment.
Another trader in North China disclosed that in April laterite nickel ore consumption by their downstream clients increases notably and accordingly his sales grow from only 230,000t in March to around 600,000t in April. "This Thursday we refused to sell Philippine laterite nickel at below USD33/t CIF China, unchanged from last Friday. This week we concluded no orders and last sold 60,000t at USD29/t FOB the Philippines in mid-April," the trader said. Considering that downstream clients are active in replenishing laterite nickel ore stocks and miners are eager to raise prices, he believed that Philippine laterite nickel ore prices would move up in the following week.
With a regular monthly trade volume of around 700,000t, the trader sold 600,000t in April and about 230,000t in March, holding no stocks of laterite nickel ore now.
