Chinese nickel ore market remained subdued last week - 02 Jul, 2008
It is reported that Chinese domestic nickel ore market remained week last week. As per reports, port inventories are high, which bring heavy pressures to nickel ore market.
The leading quotations of 2.0%, 1.8% and 1.6% nickel ore from Philippine were CNY 1,000 per tonne to CNY 1,030 per tonne, CNY 860 per tonne to CNY 900 per tonne nickel and CNY 660 per tonne nickel respectively. However, there were no transactions.
The whole market is depressed at present, but nickel ore price keeps steady. It is expected that the situation is unlikely to be changed in a short term although ferronickel market is firm.
