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[Ferro-Alloys.com]The LME prices continued to dip on Oct. 21st (Tuesday), creating new low for H2 2014, with high at $15,430/t and low at $15,080/t, closing at $15,330/t. This downtrend from Sept. 9 to Oct. 21 has offset the increase from Mar. 4 to May 9, bringing the price back to the beginning of this year. The prices has broken the MA100 downward on the week chart.
The prices of ferronickel fell to RMB1,100/Ni in some areas of China, and there was seldom transaction for the producers. It is predicted that there would be large supply deficit of nickel in 2015, but the market failed to reflect the relation between supply & demand for nickel. There would be big problems in China’s stainless steel industry and even the real estate market if the prices refuses to rebound in the coming two months.
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