【Nickel Ore Weekly Review】The market ore price stabilized as a whole during the Indonesian holiday during the week

SMM, April 3, Philippine nickel ore, this week's average price of 1.3% CIF is 30 US dollars / wet ton, 1.4% CIF average price is 38 US dollars / wet ton, 1.5% CIF average price is 45 US dollars / wet ton, the overall Philippine mine is still flat compared with last week, and the domestic price is still in a stalemate this week. Affected by the weak price of ferronickel in the early stage, the operating rate of domestic iron mills declined, and the purchase and transaction intentions of small factories were light. At present, the price difference between the upstream and downstream intention of domestic Philippine mining is 1.4-1.5%, and the grade is between 1-2 US dollars/wet ton. Upstream miners are expected to maintain a game in the short term, and downstream small iron factories may consider continuing to purchase in the second half of the year. In terms of Indonesian nickel ore, the price is still at a high level during the week, and it is difficult to fall. The week coincided with the Eid holiday, and the overall price in the Indonesian market remained stable. In terms of smelters, in addition to maintaining normal production in the production room, there are certain rotations in the rest of the departments, and it is expected that there will be some centralized rework next week. In terms of mines, due to the holiday period, the mining progress during the week is also relatively slow, and it is expected that the normal mining rhythm will gradually return after the middle of the week. In addition, there has been no new RKAB approval in the past two weeks, so it is expected that the tight supply situation will continue in the short term, and it is difficult to achieve a price decline in the short term. In terms of terminal capacity in Indonesia, the recent tight terminal schedule still exists.