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Jisco Cut down High FeNi Purchasaing Price of June-China

Since mid of May, the LME nickel price kept the weak trend. The FeNi price declined slightly at the end of May for the weaker demand. As more FeNi enterprises closed down, making the purchasing of nickel ores deserted.

Affected by the rising trend of foreign market, the spot price of high grade nickel ores in Chinese market continued to improve. However

For the rising demand from steel mills, the low ferronickel price rose significantly

[Ferro-Alloys.com] In end May, the crazy nickel ore market in China grandually calmed down due to buying from purchasers decreasing.

[Ferro-Alloys.com]For the tight supply of nickel, international major steel mills had largely improved the factory price of June. For example, Yieh United Steel Corp (Yusco) had pulled up the 300 series stainless steel price by RMB1860/mt (in Chinese market), ...

According to the producers, the supply of low FeNi was pretty tight. Now the low FeNi price had already increased to RMB3,400-3,600/mt,

Nickel was underpinned on Tuesday after rioting at a Vale mine in New Caledonia intensified worries over supply shortages, while copper hit its highest level in nearly three months on demand recovery hopes.