[Ferro-Alloys.com]On Nov.25th, Jisco released the high FeNi price of Dec., which was cut down by RMB30 to. RMB985/Ni (delivery price, half by cash, and half by acceptance). The purchasing volume was the constant purchasing at 30,000tons. According to the procurement person in charge, the reported volume was sound.

 

This price frustrated the supplies to some extent, as Tisco maintained the ferronickel price in the new round of purchasing and some manufactures in Inner Mongolia stopped production for one week, resulting in the high expectation of the enterprises for the price.

 

But it was acknowledged that most of the enterprises could resume production form Nov.25th, so the suspension of production would not affect the total supply much. And besides, the market supply was comparatively adequate due to the stock of some large and medium manufactures. Most of the steel mills showed that they had no large purchasing pressure. In addition, the LME nickel price was still at low price. On Nov. 22th, the closing price was USD$13560/mt. And that was why the steel mills could successfully cut down the price.