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Print[Ferro-Alloys.com]This week the LME nickel price did not change much on Aug.28th, it closed at USD18690/mt, decreasing by USD186/mt than last week. The nickel stock sustained the rising trend for two month., which improved by 2208tons to 326922tons on Aug.28th. Chinese nickel metal price declined by RM 100/mt with offers at RMB129900-130100/mt on Aug.29th.
In China, some large stainless steel mills held the ferronickel prices stable while some reduced it by RMB5-10/Ni. At the end of Aug.., the ex-work price of low ferronickel (Ni 1.6-1.8%) decreased by RMB100 to RMB2600-2650/ton, medium and high FeNi price fell by RMB10/Ni with (Ni 4-6%) at RMB1280-1300/Ni, ferronickel (Ni 6-8%) at RMB1270-1290/Ni and ferronickel (Ni 10-15%) at RMB1270-1290/Ni.
In total, the operating rate in South areas were better than that of north areas. Even though the capacity release rate recovered slightly, the production were still highly restricted by the nickel ores supply and the poor market. In Shandong province, the strict environmental regulation increased the manufactures’s cost, especially the medium and small enterprises. Under this condition, some enterprises chose to postpone the resumption of production time. Because of the poor demand and the ‘firm’ nickel ores cost, the high ferronickel price had been stalemated.
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