[Ni] Ferronickel Prices Rise Significantly, with Active Transactions

SHANGHAI, Apr. 17 (CBI China) -- Nickel price soared. Jinchuan Group continued to lift the nickel price to RMB 119,000/mt from RMB 96,000/mt, up 23.9%, hitting the highest growth rate since 2009.

    Positively affected by strong nickel price, high-nickel ferronickel (nickel content over 10%) prices rose to RMB 950-1,000/mt from RMB 850-950/mt due to the limited producers at present.

    While the prices were RMB 1,200-1,250/mt for medium-nickel ferronickel (nickel content 4-5%), RMB 1,150-1,200/mt for medium-nickel ferronickel (nickel content 5-6%), due mainly to the limited producers and slim transactions. The wait-and-see attitude prevailed among the downstream producers.

    Prices were RMB 2,850-2,900/mt for low-nickel ferronickel (nickel content 1.6-2.0%), with stable transactions.

    Although the nickel price rose significantly, domestic ferronickel producers did not resume production in large scale and still took cautious and wait-and-see attitude.

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