It was still generally expected that the Indonesian export ban would not be changed. Therefore, the supply shortages would provide firm support for the nickel and FeNi price in the long run. However, considering the fund and the demand from steel mills,

At the beginning of July, ex-work price including tax of ferronickel (Ni 1.6-1.8%) dropped RMB150/mt to RMB3200-3250/mt due to oversupply and softened demand.

The FeNi price was expected to go weaker for the weak demand from steel mills, while the decreasing rate might not be large, because now many FeNi producers had already cut down the production

n July, more steel mills would start to overhaul. Therefore, the demand for raw materials would decline. Besides, according to some steel mills, most of them still held some high FeNi stock now,

It was acknowledged that Jisco had once again reduced the purchasing price of high FeNi, which was reduced to RMBXX/Ni（delivery price with tax, by acceptance）

During June and August, the stainless steel production would enter the off-season, which reduce the demand of the raw material-ferronickel.

Expect for the weak demand from steel mills, the upcoming cancellation export tariff of the nickel products might also pressured on the FeNi price.

]Recently many steel mills started to cut down the purchasing price of high FeNi.