[Ferro-alloys.com]This week the LME Nickel price fluctuated in narrow range. On Feb.5th, LME Ni price closed at USD15090/mt, rising by USD190/mt than last week while the stock declined by 2080tons to 423480tons. On technical perspective, the nickel price still bore pressure to go up. On Feb.6th, Jinchuan nickel was quoted at RMB108500-108700/mt, up by RMB700/mt.

In recent week, the low FeNi stayed at RMB2650-2700/mt. it was expected that the price would went steady along with the low demand and operating rate. For medium and high FeNi, the price further declined by RMB5-10/Ni as medium FeNi with Ni 4-6% was quoted at RMB1040-1060/Ni and 6-8% was RMB1030-1050/Ni and High FeNi with Ni10-15% was RMB1060-1080/Ni. Under this condition, some FeNi producers chose to sell some certain stock to release the tight fund. Even though some enterprises worried that the FeNi price would decrease after the New Year due to the rising supply of FeNi available for sale, most of them still showed optimistic attitude for the market under the firm nickel ores cost support.

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• [Editor:Juan]