It's reported that the Chinese ferronickel market still remained weak recently. The ferronickel price fell by RMB50/ton (USD8/ton), in comparison of the prices early this month.
Market participants reckon that the drop of the ferronickel price was mainly owed to the drop of nickel price in LME.
It is said that because of the decreasing domestic demand for stainless steel, the demand for ferronickel shrank accordingly, which causing the ferronickel price to go down all the way since this March.
Meanwhile, the ferronickel prices have fallen by RMB450/ton, in comparison of the prices early this year.