[Ferro-Alloys.com] Nickel prices showed a little downturn after a rebound earlier. On Oct. 29, gold and other kinds of metals downturn dragged down the nickel prices, which quoted at $10,335 per metric tone, down 1.94 percent.

Among last week, nickel reserve continued to loss to 427,512 metric tones on Oct. 29. So far, about 55percent of nickel industry sank into deficit due to lower commodity prices. However, the industry’s act to cut nickel output is really not much seen, while investors only focus on the lower pace of ore development and decreasing stockpiles.

Russian nickel slows down its export into China, which stabilize the price gap between Jinchuan nickel and Russian nickel. Weaker demand in the downstream market brought a scene of less business when gold collapse push forward the greenback and finally weigh on the base metals. The Shanghai nickel approximately quoted at 78,500-79,200/t, and expected to adjust to 76300-77800/t in the short term.

Chinese and western continue to take looser monetary policy, after the People's Bank of China is double drop in 10 billion reverse repurchase, stay loose on the financing side; The United States in the third quarter GDP growth slowed to 1.5%, but domestic demand remains robust, the Fed FOMC in October to maintain 0.25% of the interest rates unchanged.

• [Editor:Juan]