Depends really.......pure nickel is still relatively cheap and the LME listed warehouse still has a total of 350Kt of concentrate/refine nickel (it is only 17.5% of the estimated concentrate/refine nickel consumption for this year......). So this might force the stainless steel producers to use more of these pure nickel in their production, which could explain the rise in nickel concentrate/refine price due to the Philippines laterite nickel ore ban, hence I think it's best to post the price of 1-1.5% laterite nickel ore, don't you think as it's more relevant to AVQ?
The LME are listed warehouse which hold stockpile of concentrate nickel so my understanding is for 5Kt of the 350K nickel concentrate contact, the cost of that contract is 4.7*5000*2200= 51.7M USD (higher or lower depending on your contract)
