[ferro-alloys.com]On Monday, Treasury Department of United States said that they would release the sanction of Rusal under certain conditions. It made the LME aluminum price fell down. Besides, it affected the LME nickle price. Yesterday, the LME nickle was quoted at 14280USD/T. Today, compared to Wuxi 1805 contract, the premium of Russian nickle is 500-600RMB/T, and the premium of Jinchuan nickle is 1000RMB/T. The Jinchuan electrolytic nickle (big board) was quoted at 104500RMB/T in Shanghai. Due to the downfall of the percentage of added-value tax, some traders stopped quoting invoice in this month. They were not positive in the market. The mainstream price is 103400-104500RMB/T.

As the LME nickle price went down further, the stainless steel market was restricted. It affected the requirement of ferronickle in the market.The confidence of traders were shaken, and they became cautious.Some firms plants cut down its high grade ferronickle price under the pressure from the steel plants. Today, the price of high grade ferronickle is 975-985RMB/nickle, and low grade ferronickle price is 2900-3000RMB/T.

• [Editor:王可]