[Ferro-Alloys.com]After one round of decline, LME Ni entered consolidation status. On Oct.10^th, LME Ni closed at USD16420/mt, decreasing by USD240/mt than that before the National Day holiday. Nickel stock increased by 22338tons to 367134tons. Meanwhile, Chinese nickel metal price declined by RMB 4350/mt with offers at RMB114000-114200/mt.

For the weak demand and the poor international nickel market condition, FeNi price continued to decline. Recently, low FeNi price decreased by RMB80 to RMB2500-2550/mt. Medium and high FeNi price declined by RMB50/Ni as FeNi with (Ni 4-6%) was at RMB1130-1150Ni, ferronickel (Ni 6-8%) at RMB1120-1140/Ni and ferronickel (Ni 10-15%) at RMB1120-1150/Ni. all the price was ex-works price with tax.

Chinese real estate and steel market remains depressed, adding to the high nickel stock, nickel price might further decline. As the production of large FeNi manufacturers remain high level while the demand weak. The oversupply condition made the FeNi price hard to go up. Under this situation, many small enterprises cut down output or closed down directly. The production and operating condition of enterprises differentiated seriously.

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• [Editor:Juan]