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Home / Metal News / Philippines' Global Ferronickel to sell 1 million wmt of nickel ore Baosteel

Philippines' Global Ferronickel to sell 1 million wmt of nickel ore Baosteel

Nov 22, 2019 11:46

Source:SMM

Shipments of the minerals are expected to begin Apr 2020

SHANGHAI, Nov 22 (SMM) – Global Ferronickel, the second biggest nickel ore supplier in the Philippines, said on November 20 that it has agreed to ship 1 million wmt of nickel ore to Baosteel Resources International in 2020.

Shipments of the minerals, consisting of 50% low-grade and 50% medium- to high- grade nickel ore, are expected to begin in April 2020, Global Ferronickel said.

Baosteel Resources is a unit of China's largest steel producer Baowu Steel Group.

Market commentary

Nickel ore

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SMM prices of Ni1.5% ore average stood at $73.5/wmt on a cif basis on July 9, unchanged from a week earlier. Nickel ore prices remained stable this week. Quotations remained high but the mainstream traded prices in the market remained at CIF $72-75/wmt.

Jul 13, 2021 15:58

Analysis

Scarce available nickel ore kept quotes at high levels, shipping rates unlikely to fall in short-term

SMM Morning Comments (Jul 13): Shanghai base metals were mostly lower as investors awaited China's trade data for June

Shanghai base metals were mostly lower on Tuesday morning as investors awaited the release of China's trade data for June. Meanwhile, their counterparts on the LME also fell for the most part.

Jul 13, 2021 10:00

SMM Comments

SMM Morning Comments (Jul 13): Shanghai base metals were mostly lower as investors awaited China's trade data for June

Nickel ore inventories at Chinese ports fell 36,000 wmt to 8.35 million wmt

Nickel ore inventories across all Chinese ports declined 36,000 wmt from August 21 to 8.35 million wmt as of August 28, showed SMM data.

Aug 28, 2020 18:30

Analysis

Nickel ore inventories at Chinese ports fell 36,000 wmt to 8.35 million wmt

Indonesian nickel ore FOB quotes rise to $45-47/wmt

Transactions were done at a maximum of $45/wmt fob, up $2/wmt from a week earlier,

Sep 19, 2019 10:48

SMM Comments

Indonesian nickel ore FOB quotes rise to $45-47/wmt

Top Philippine high-grade nickel ore supplier to suspend mining in Oct

The largest high-grade nickel ore supplier in the Philippines, SR Languyan Mining Corp, will stop mining in Oct

Aug 9, 2019 11:10

Reminder

Top Philippine high-grade nickel ore supplier to suspend mining in Oct

China to see nickel ore deficit in 2019 if Indonesia advances export ban

Indonesia is expected to export another 12.01 million wmt of nickel ore by the expiration of the remaining quotas

Aug 7, 2019 14:56

SMM Insight

China to see nickel ore deficit in 2019 if Indonesia advances export ban

Freight rates, purchases support nickel ore prices despite easing nickel prices

SMM assessment showed that offers of nickel ore with 1.8% Ni climbed to $54-55/wmt cif as of Jul 26

Jul 26, 2019 19:08

SMM Comments SMM Insight Industry

Freight rates, purchases support nickel ore prices despite easing nickel prices

Nickel ore inventories at Chinese ports expand to 12.53 million wmt

Stocks increased by some 330,000 wmt from a week ago to 12.53 million wmt as of May 24

May 24, 2019 16:47

Analysis

Nickel ore inventories at Chinese ports expand to 12.53 million wmt

Nickel ore imports continue to grow in Sep

China imported 7.22 million wmt of nickel ore in Sep, with 30,000 wmt of sulphide ore and 7.19 million wmt of laterite ore

Oct 22, 2018 12:02

Analysis

Nickel ore imports continue to grow in Sep

Additional Indonesia nickel ore export quota to limitedly impact the Chinese market

PT Ifishdeco in Sep received the green light to export 4 million wmt of nickel ore

Sep 20, 2018 18:53

SMM Insight

Additional Indonesia nickel ore export quota to limitedly impact the Chinese market

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Philippines' Global Ferronickel to sell 1 million wmt of nickel ore Baosteel

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