[ferro-alloys.com]Yesterday, the USD price went down. Relatively, the LME nickle price rose up. By the end, the LME nickle was quoted at 14475USD/T which was 445USD/T higher than the price on the last trading day. Compared to Wuxi 1806 contract, the premium of Russian nickle was 500RMB/T, and Jinchuan nickle premium was 700RMB/T. Today, the price of Jinchuan electrolytic nickle (big board) was quoted at 106600RMB/T which was 1400RMB/T higher than the price yesterday. The down stream firms purchased goods as required. The mainstream price was 106200-106800RMB/T.
The rising of the LME nickle price inspired the traders in the stainless steel market. At present, parts of the steel plants have halted their productions due to the environmental protection or overhaul. The situation maintained the rising of stainless steel price. Following the rising of stainless steel products prices, the ferronickle price went up. Now, the price of high grade ferronickle is 995-1010RMB/nickle, and the low grade ferronickle is 3100-3200RMB/T which is higher than the price yesterday.