Chinese high-grade ferronickel prices fall
2023-03-01 12:08:28 [Print]
BEIJING (Asian Metal) 1 Mar 23 - This week, high-grade ferronickel consumers wait on the sidelines towards the market impacted by the continuous sparse demand of stainless steel market. Mainstream prices for Chinese high-grade ferronickel 10%min stood at RMB1,330-1,350/mtu (USD192-195/mtu) on Tuesday, down by RMB10/mtu (USD1.44/mtu) from Monday
A Chinese consumer noted that their supplier of high-grade ferronickel could accept the price as low as RMB1,330/mtu (USD192/mtu) on Tuesday and RMB1,340/mtu (USD193/mtu) on Monday. "We didn't make a deal on Tuesday, and last purchase 10,000t at RMB1,380/mtu (USD199/mtu) 20 days ago", the source said . He also mentioned that the current weak demand in the stainless steel market led to a decline in their consumption of high-grade ferronickel 10%min, and they have no plan to replenish the stock in the near future because of their sufficient high-grade ferronickel stocks at present.
With an annual consumption capacity of about 200,000t of high-grade ferronickel, the company used 200,000t in February and predicts to consume 200,000t in March, holding about 60,000t of high-grade ferronickel 10%min stocks for the moment.
A Chinese producer reported that on Tuesday they offered RMB1,340/mtu (USD193/mtu) for high-grade ferronickel 10%min and could accept the concession of RMB10/mtu (USD1.44/mtu). They refuse to sell at the price below RMB1,340/mtu (USD193/mtu) on Wednesday. "There closed no deal this week, and last sold about 1,000t at RMB1,380/mtu (USD199/mtu) in early February", the source said, adding that at present the orders of downstream customers show scarce and their shipment pressure of high-grade ferronickel 10%min appears high . He expects that prices for Chinese high-grade ferronickel 10%min would keep soft in the following week.
With an annual production capacity of 130,000t, the company reported an output of 79,000t or so in 2022. It produced about 5,000t in February and 4,000t in February, holding no ferronickel stock at the moment.
. Insiders explained that their shipment pressure increase currently, and expect that prices for Chinese high-grade ferronickel 10%min would remain relatively stable in the coming week.
A Chinese consumer noted that their supplier of high-grade ferronickel could accept the price as low as RMB1,330/mtu (USD192/mtu) on Tuesday and RMB1,340/mtu (USD193/mtu) on Monday. "We didn't make a deal on Tuesday, and last purchase 10,000t at RMB1,380/mtu (USD199/mtu) 20 days ago", the source said . He also mentioned that the current weak demand in the stainless steel market led to a decline in their consumption of high-grade ferronickel 10%min, and they have no plan to replenish the stock in the near future because of their sufficient high-grade ferronickel stocks at present.
With an annual consumption capacity of about 200,000t of high-grade ferronickel, the company used 200,000t in February and predicts to consume 200,000t in March, holding about 60,000t of high-grade ferronickel 10%min stocks for the moment.
A Chinese producer reported that on Tuesday they offered RMB1,340/mtu (USD193/mtu) for high-grade ferronickel 10%min and could accept the concession of RMB10/mtu (USD1.44/mtu). They refuse to sell at the price below RMB1,340/mtu (USD193/mtu) on Wednesday. "There closed no deal this week, and last sold about 1,000t at RMB1,380/mtu (USD199/mtu) in early February", the source said, adding that at present the orders of downstream customers show scarce and their shipment pressure of high-grade ferronickel 10%min appears high . He expects that prices for Chinese high-grade ferronickel 10%min would keep soft in the following week.
With an annual production capacity of 130,000t, the company reported an output of 79,000t or so in 2022. It produced about 5,000t in February and 4,000t in February, holding no ferronickel stock at the moment.