[Ferro-Alloys.com] In domestic market, ferrous nickel prices shed pretty much last week, to some extent, accelerated the sector’s reshuffle. Low-grade ferrous nickel 1.6-1.8 dropped 50yuan to 1600-1650yuan/ton; mid-grade ferrous nickel 4-6 traded at 750-760yuan/ni, down 30yuan/ni; mid-grade ferrous nickel 6-8 traded at 740-760yuan/ni, down 30yuan/ni; high-grade ferrous nickel 10-15 traded at 740-760yuan/ni, down 30yuan/ni.

During last week, all large steel makers upper-adjusted the purchase price of high-grade ferrous nickel. In Nov. 9th, Pohang Stainless Steel Corp. quoted its first round price at 765yuan/ni, down 25yuan/ni; In Nov. 10th, Shanxi Taigang Stainless Steel Co., Ltd quoted the ferronickel price at 700yuan/ni, down 40yuan/ni.

Endless downturn in nickel prices, in the short term, hit the nickel makers’ heart. According to our investigation, most operations are burst into care and maintenance in Inner Mongolia, Gansu, and Shanxi provinces due to lower nickel, and the others with robust balance sheet can have to go on just in order to compete for the market share.

• [Editor:Juan]