The nickel ore price is expected to remain stable

The mainstream CIF price of laterite nickel ore is temporarily stable. At present, price of Ni 0.9% low Al ore is 48.5 USD / wet ton,and the price of Ni 1.3% ore is 60 USD / wet ton. The Philippines overall shipment shows a downward trend, the willingness of mines to support prices is strong, traders mostly execute early orders, and there is no quotation at the moment. The quotation of some medium and high nickel ore holders is still higher than the expectation of the factory, and the transactions are sporadic. During the week, the bargaining focus of high nickel pig iron decreased, many factories were worried about the weakening of the future market, and the inventory level of nickel ore in most factories at the spot was relatively sufficient, so they were cautious about nickel ore procurement. The short-term weak market supply and demand situation is difficult to change, and the nickel ore price is expected to remain stable.