[ferro-alloys.com]Yesterday, the price of U.S dollor went down under pressure. Relatively, the price of LME nickel rose up. By the end of trading, the LME nickel was quoted at 13895 USD/T. It was 115 USD/T higher than the price on last trading day. Encouraged by the rising of LME nickel and demands for downstream stainless steel, the price of future nickel in Shanghai Future Exchange went up in the morning. Comapred to Wuxi 1808 contract, the premium of Russian nickel was 50 RMB/T, and the premium of Jinchuan nickel was 1000 RMB/T. Today, Jinchuan quoted its electrolytic nickel (big board)  at 113300 RMB/T. It was 300 RMB/T higher than the price yesterday.

At presents, parts of ferronickel plants haven’t resumed their productions. So, the supply of ferronickel is insufficient. However, some stainless steel halted their production for overhauls. The demand for ferronickel is restricted. So, the price of ferronickel kept steady today. The high grade ferronickel was quoted at 1080-1095 RMB/Nickel, and the low grade ferronickel price was 3400-3500 RMB/T.

• [Editor:王可]