[ferro-alloys.com]The Boao Forum started yesterday. In the meeting room, Chairman Xi announced that China would open the domestic market further. The good news raised the metal markets.The price of LME nickle was risen up to 13730 USD/T significantly.Compared to Wuxi 1805 contract, the premium of Russian nickle is 400 RMB/T, and the premium of Jinchuan is 900-1000RMB/T. Today, Jinchuan quoted its electrolytic nickle (big board) at 101600 RMB/T in Shanghai.The price of nickle was kept on high level in the morning, and the mainstream price is between 101200 RMB/T and 101900 RMB/T.  

As the LME nickle price rose up, the price of 304 series stainless nickle increased. It made the traders boost their confidence in the ferronickle market.Today，the high grade ferronickle price rose up to 960-975RMB/nickle. According to the message from the market, a large steel plant will not purchase ferronickle in the future. It may lead them decrease their production. If it is true, the stainless steel price may rise, and the ferronickle may increase,too. The price of low grade ferronickle remains at 3000-3100RMB/T at present.

• [Editor:王可]