[Ferro-Alloys.com]This week the LME nickel price increased much encouraged by the proposal for export ban in Philippines. On Sept.4th, it closed at USD19365/mt, increasing by USD675/mt than last week. The nickel stock continued to rise since early of Jul., which improved by 3798tons to 330720tons on Sept.4th. Chinese nickel metal price improved by RMB 2900/mt with offers at RMB132800-133000/mt on Sept.5th.

This week the medium and high ferronickel price declined by RMB10/Ni and the supply was adequate. The details were listed as below: FeNi with (Ni 4-6%) at RMB1270-1290/Ni, ferronickel (Ni 6-8%) at RMB1260-1280/Ni and ferronickel (Ni 10-15%) at RMB1260-1280/Ni. the ex-work price of low ferronickel  (Ni 1.6-1.8%) maintained at RMB2600-2650/ton,

Now the operating rate in North areas was still not optimistic. in respect of the market prediction, many producers said the FeNi price was hard to go down for high Ni ores cost while it was also difficult to increase for the weak demand form stainless steel market. In addition, it was expected that the export ban proposal in Philippines would not affected  the FeNi market much in short term.

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• [Editor:Juan]