[Ferro-alloys.com]In recent week, the LME nickel price rose slightly, which might further improve then. On Jan.8th, LME Ni price closed at USD15550/mt, rising by USD669/mt while the stock decreased by 942tons to 415842tons. On Jan.9th, LME Ni price increased by 2400tons to 110600-110800tons compared with that of last week.

Low ferronickel price continued to recover after bottoming out in late Nov. of 2014. Up to Jan.9th, low FeNi price rose by 10.5% to RMB2600-2650/mt(ex-works price with tax). Due to the tight supply and the active inquires, more discontinued enterprises planned to recover the production.

This week the medium and high FeNi price increased by RMB5-10/Ni as medium FeNi with Ni 4-6% was quoted at RMB1070-1080/Ni and 6-8% was RMB1060-1070/Ni and High FeNi with Ni10-15% was RMB1080-1090/Ni. Most of the FeNi enterprises still quoted firm and the purchases price from steel mills also stayed steady largely.the LME Ni price still went between the range of USD15000-17000/mt, whose uncertain trend had no clear direction for FeNi. However, considering the factors of the overhaul of some steel mills and the cancellation of 1% import FeNi tax, medium and high FeNi price suffer resistance to go up in Jan.. Meanwhile, the high FeNi price also hard to go down in short term.

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• [Editor:Juan]