[ferro-alloys.com]Influenced by declining of U.S stock index, the traders were in panic in macro market. The price of nonferrous metal dropped down including nickel. By the end of trading, nickel was quoted at 12215 USD/T in London Metal Exchange yesterday. It was 180 USD/T lower than the price on Tuesday. Affected by declining of LME nickel price,the price of Shanghai Future Nickel dropped down in the morning. Compared to Wuxi 1811 contract, the premium of Russian nickel was 350 RMB/T, and the premium of Jinchuan nickel was 6200-6500 RMB/T. Today, Jinchuan quoted its electrolytic nickel at 108200 RMB/T. It was 1100 RMB/T lower than the price yesterday.

Today, the stainless steel market was not in good condition. The price of 201 series stainless steel dropped down again. The traders were not positive in the market. Influenced by environmental protection inspection, the output of ferronickel was still restricted. What’s more, the nickel price trend went down in general today. So, the price of high grade ferronickel dropped down a little. The mainstream price was 1060-1075 RMB/Nickel. The low grade ferronickel price kept steady today. The mainstream price was 3650-3750 RMB/T.

• [Editor:王可]