[ferro-alloys.com]Yesterday, the LME nickle price went up and down. By the end, the LME nickle was quoted at 14475USD/T. It was the same as the price on the last trading days. Compared to Wuxi 1806 contract, the premium of Russian nickle was 500RMB/T, and the Jinchuan nickle premium was 600RMB/T. Today, Jinchuan quoted its electrolytic nickle (big board) at 107000RMB/T which is 400RMB/T higher than the price yesterday in Shanghai. The downstream firms purchase goods as required. The mainstream price was 106600-107200RMB/T.
The inventory of stainless steel has been decreased in May. Some steel plant stopped their production. These made the supply quantity was deficient in the market. Besides, the price of stainless steel was remained at high level. Relatively, the ferronickle price went up. Today, the high grade ferronickle price was risen up to 1005-1020RMB/nickle, and the low grade ferronickle went up at 3150-3250RMB/T.