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Print[Ferro-Alloys.com]This week LME nickel price further declined, which closed at USD17247/mt on Sept.25h, decreasing by USD611/mt than last week. Nickel stock increased by 5508tons to 344796tons.the rising trend of nickel stock had already maintained for 3 months. Chinese nickel metal price declined by RMB 6600/mt with offers at RMB118300-118600 /mt on Sept.26th.
In recent days, low FeNi price maintained at RMB2, 580-2,630/mt in recent week. Medium and high FeNi price declined by RMB80-90/Ni as FeNi with (Ni 4-6%) at RMB1180-1200/Ni, ferronickel (Ni 6-8%) at RMB1170-1190/Ni and ferronickel (Ni 10-15%) at RMB1170-1200/Ni. all the price was ex-works price with tax.
At the end of Sept., most of stainless steel mills had cut down the benchmark price of high FeNi in Oct.. In addition, the LME nickel price had declined for three weeks. In this condition, many manufactures presented pessimistic attitude for FeNi market and were not reluctant to stock.
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