[Ferro-Alloys.com]This week LME nickel price rapidly declined, which closed at USD18,373/mt on Sept.11th, decreasing by USD992/mt than last week. Nickel stock increased by 1740tons to 332,460tons. Chinese nickel metal price declined by RMB 3,950/mt with offers at RMB128,900-129,000/mt on Sept.11th.

Low FeNi price fell by RMB20/mt to RMB2,580-2,630/mt for the weak demand in China. The operating rate of low FeNi was high, some manufactures said inventory overstocked for poor selling.

Medium and high FeNi price basically kept stable as FeNi with (Ni 4-6%) at RMB1,270-1,290/Ni, ferronickel (Ni 6-8%) at RMB1,260-1,280/Ni and ferronickel (Ni 10-15%) at RMB1,260-1,280/Ni. As most of the producers still could not see optimistic sign of nickel market, they prefer to sell than store.

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• [Editor:Juan]