[ferro-alloys.com]Yesterday, London Metal Exchange halted their business. U.S and Mexico reached a trading agreement. China Central Bank took steps to stabilize exchange rate.The counter cyclical factor appeared. So, U.S dollar trend became weak. Regardless of these good news, the traders were still cautious due to the China-U.S trade tension. In the morning, parts of Shanghai Future Nickel prices went down a little. Compared to Wuxi 1811 contract, the premium of Russian nickel was 50 RMB/T, and the premium of Jinchuan nickel was 2600 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 111000 RMB/T.

The domestic nickel supply was insufficient, the volume of the nickel was restricted in the market. So, the price of ferronickel could not lift up. The market was stable and the purchase prices were mainly bidding prices. In Inner Mongolia, the high grade ferronickel price remained at 1080-1100 RMB/Nickel, and the high grade ferronickel was quoted at 1085-1100 RMB/Nickel in Jiangsu, Shandong and Liaoning Provinces. The low grade ferronickel price maintained at 3400-3500 RMB/T.

• [Editor:王可]