Three-month nickel on the London Metal Exchange lost 8% on Tuesday July 7, closing at $10,660 per tonne.
Metal Bulletin reported back in April on how nickel price falls affect stainless orders and ferro-alloys demand, when one producer predicted a price drop
to $11,000-11,500 per tonne, calling anything below that "the scary level”.
At the time, the fall in nickel had just quashed a ferro-alloys buying flurry. Today, as ferro-alloys prices languish and demand remains subdued, market sources said the effect is less pronounced because there is very little buying activity to damage, but nickel prices will likely take their toll in various ways on products such as stainless steel, chrome...