Jisco Cut down High FeNi Purchasaing Price of June-China

For the rising demand from steel mills, the low ferronickel price rose significantly

According to the producers, the supply of low FeNi was pretty tight. Now the low FeNi price had already increased to RMB3,400-3,600/mt,

Steel mills had released the purchasing price, which mainly fluctuated between RMB1, 440-1,450/Ni (delivery price with tax).

The high FeNi cost and the insufficient supply made many steel mills turn to buy more low ferronickel ore nickel metal.

In FeNi market, some producers were initiative to sell some products for the tight fund. However, they still quoted firm. For steel mills

Affected by the Indonesian policy and the Ukraine situation, the nickel price had already increased by 50% since mid-Mar. This change brought much pressure to the steel mills for the rising cost while the stainless steel price was pulled up.

In China, more FeNi enterprises, including large producers had to cut down production or even closed down for lack of appropriate nickel ores.