Lateritic nickel ore market stable temporarily
2010-01-05 09:03:30 【Print】
BEIJING (Asian Metal) 05 Jan 10 – With nickel price fluctuating slightly this Monday, the market of lateritic nickel ore kept stable temporarily in China. It is sure that the sales of high-grade material keep strong, while the import of low-grade one has decreased greatly. Most participants believe that lateritic nickel ore market will go flatly for a while if nickel price does not go down sharply.
A trader in Beijing said that they just sold around 30,000t of lateritic nickel ore 1.9%min with the moisture of 35% at RMB370/t (USD54/t) ex port and explained that as the moisture is high, buyers pressed the price further. He confirmed that the prevailing price has kept stable at around RMB400/t (USD59/t) if the moisture can reach 25%.
“We will have a shipment of lateritic nickel ore 2.0%min arriving at port after the Spring Festival,” said the source, who is confident that lateritic nickel ore price will go up further, and the sentiment is recovering now.
A trader from Henan claimed that they still hold around 40,000t of lateritic nickel ore 2.13% with the moisture of 25% and insisted on offers at RMB450/t (USD66/t) ex port. They are not in a hurry to sell and expect the price to go up further. He also confirmed that the demand for this grade material is very strong and they may import another shipment next month.
“Nickel price is likely to go up further and will push up the price of lateritic nickel ore further,” said the source, who will continue to watch the market.
