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[Ferro-Alloys.com] Last week, ferrous nickel continued to drop further. Low-grade ferrous nickel 1.6-1.8 traded at 1600-1650yuan/tone; mid-grade ferrous nickel 4-6 quoted at 730-740yuan/tone, down 20yuan weekly; mid-grade ferrous nickel 6-8 quoted at 730-740yuan/tone, down 10~20yuan/tone; high-grade ferrous nickel 10-15 quoted at 720-730yuan/tone, down 20~30yuan/tone.

In mid November, www.ferro-alloys.com has made an telephone interview to the ferrous nickel factories in Inner Mongolia and realized that almost all of the makers have shut down their machines and put them on care and maintenance, waiting for a higher nickel price. Although somewhat companies can still struggle to meet the cost line, but I think it would not last very long if the lower price continues. The ferrous market condition can’t be worse.

• [Editor:Juan]