Nickel ore price doubled

Nickel ore price has continued to rise because of the ban of raw ore exporting in Indonesia, the price of the nickel ore (1.8-1.9%) in China port is 830-850RMB/Ton now, which is doubled compare with the price in January 12^th, when the ban has been practiced.

Indonesia is the main exporter of laterite-nickel, which has occupied over 40% of the total exporting amount in the world in 2013. When the government banned the exporting, it’s means the supply has been reduced 440,000 tons, this is a very bad new for the Chinese nickel related industries.

The laterite-nickel has been used for producing the stainless steel in China, which could replace the nickel metal to reduce the cost. And China is the main importer of the laterite-nickel, in 2013, China has imported 41,099,500 tons nickel, and there was 57.63% from Indonesia. Another 41.67% was imported from Philippines.

The demand is increasing, and the supply is going down sharply, there’s no way to stop the price increasing. The stock in the sea port is going down, and expected to be finished in 8 month..

Another two negative factors are: As the main supplier of nickel metal—Russia has been sanctioned by the EU and USA; and the giant nickel mining plant of Vale have been shut down because of the pollution in last month. The price of nickel is still in the high way.

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