[Ferro-alloys.com]In early Feb., 2015, low ferronickel price was quoted at RMB2600-2650/mt, declined by RMB50/mt after nearly three months’ firm period.

In quarter4 of 2014, the low FeNi operating rate was in low level affected by the poor market condition and strict environmental laws. The tight supply pushed the price increase since end of Nov.. Entering Feb. of 2015, despite of the low capacity release, the low FeNi price turned weak for the poor demand from stainless steel mills.

Because of the surplus supply, the low grade nickel ores price continued to decline in half two of 2014 with drop rate of 43%, recording the lowest point in recent two years. Then affected by the rainy season of Philippines, the price gradually turned stable since end of Dec.. Up the early Feb., the low grade nickel ores (Ni0.9-1.1%，Fe49%) kept at RMB215/wet mt. In addition, since end of Jan., 2015, the Philippines miners also started to pull up the price. On the whole, the low grade nickel ores price was less likely to continue dropping.

It was expected that supported by the nickel ores cost, the low FeNi price did not have much space to decrease then.

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• [Editor:Juan]